Iraq Economic News and Points to Ponder Late Sunday PM 3-30-25
“Al-Sudani Congratulates The Iraqi People And The Islamic Nation On The Occasion Of Eid Al-Fitr
Sunday, March 30, 2025 | Politics Number of reads: 153 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani congratulated the Iraqi people and the Islamic nation on the occasion of Eid Al-Fitr.
Al-Sudani said in a tweet on the X website: On the occasion of Eid Al-Fitr, we pray to God Almighty to bless its days for our honorable Iraqi people, and for the entire Islamic nation, and to accept our obedience, good deeds and striving to please Him, and to spread peace and security throughout the world.
He added: We renew our commitment to implementing the government program in all its service, social and economic dimensions, and to continue working at all times and circumstances without stopping, and to exert all efforts for reconstruction and development, in accordance with what is required by the supreme interests of our people and the aspirations of all its sons. / End https://ninanews.com/Website/News/Details?Key=1195036
The Central Bank To Nina: We Will Launch A Major Initiative To Finance Industrial Projects
Sunday, March 30, 2025 | Economic Number of reads: 394 Baghdad / NINA / The Central Bank of Iraq announced its intention to launch a major initiative to finance industrial projects in cooperation with the Trade Bank of Iraq and the Industrial Bank.
The Governor of the Central Bank, Ali Al-Alaq, said in a statement to the National Iraqi News Agency ( NINA ), "We are currently making arrangements to finance major industrial projects through coordination between the Trade Bank of Iraq and the Industrial Bank, by taking advantage of the liquidity available at the Trade Bank of Iraq and recycling these funds in the Industrial Bank to launch a major initiative to finance industrial projects in Iraq, which will see the light soon."
He added, "This initiative was recently proposed by the Council of Ministers, within the framework of the government banking sector reform program and government procedures with the Central Bank, indicating that the Council of Ministers agreed to have cooperation between government banks with a financial surplus to finance a package of industrial projects through the Industrial Bank."
He explained that "all other projects are financed according to their sectoral channels, within the general government direction to support industrial, agricultural, housing, education, health, investment and other projects." / End https://ninanews.com/Website/News/Details?Key=1194954
Iraq's Oil Exports To The US Exceeded Those Of Saudi Arabia Last Week
Sunday, March 30, 2025| Economic Number of reads: 309 Baghdad / NINA / The US Energy Information Administration announced, on Sunday, that Iraq's oil exports to America during the past week amounted to more than 200,000 barrels per day, exceeding Saudi Arabia's exports.
The administration said in a table, "The average US imports of crude oil during the past week from ten major countries amounted to 5.648 million barrels per day, up by 975,000 barrels per day from the previous week, which averaged 4.673 million barrels per day."
It added that "Iraq's oil exports to America rose, reaching an average of 203,000 barrels per day, thus exceeding Saudi Arabia's oil exports to America, which amounted to 144,000 barrels per day."
The administration indicated that "the largest oil revenues to America during the past week came from Canada, followed by Mexico, then Brazil and Venezuela."
According to the table, "the amount of US imports of crude oil continued from Colombia, Saudi Arabia, Ecuador, Libya and Nigeria." / End https://ninanews.com/Website/News/Details?key=1194895
Oil Prices Fall Below $73 A Barrel
Economy | 30/03/2025 Mawazine News – Baghdad Oil prices witnessed a significant decline on Sunday in evening trading after 2:00 PM GMT, affected by several pressure factors, most notably escalating concerns about new tariffs imposed by the United States, rising US oil inventories, and OPEC's decision to increase production.
According to market data, Brent crude futures for June 2025 delivery fell by $0.58, or 0.79%, to reach $72.76 per barrel. West Texas Intermediate (WTI) crude futures for June 2025 delivery also fell by $0.56, or 0.80%, to reach $69.36 per barrel.
These declines come after Washington announced the imposition of additional tariffs on energy imports from Canada, Mexico, and China, raising investor concerns about the repercussions of this move on global demand levels.
In the same context, data from the US Energy Information Administration revealed a greater-than-expected rise in US crude oil inventories during the week ending March 7, increasing by 1.4 million barrels to 435.2 million barrels.
OPEC's decision to increase its oil production by 138,000 barrels per day starting next April added further pressure on prices, amid expectations that this will impact market balance in the coming period.https://www.mawazin.net/Details.aspx?jimare=260444
Exchange Rates In Iraq: 148,500 Dinars To $100
Economy | 03/30/2025 Mawazine News – Baghdad The US dollar exchange rate against the Iraqi dinar remained volatile at exchange shops and companies in Baghdad.
The selling rate was 148,500 dinars for $100, while the buying rate was 146,500 dinars for $100.
This rise comes amid a relative buying activity and retail activity among citizens in a number of shopping malls coinciding with the advent of Eid al-Fitr. https://www.mawazin.net/Details.aspx?jimare=260428
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