Iraq Economic News and Points To Ponder Monday Evening 5-4-26
USD Slips Against Dinar In Baghdad And Erbil
2026-05-04 Shafaq News- Baghdad/ Erbil The US dollar opened Monday's trading lower in Iraq, hovering around 152,000 dinars per 100 dollars.
According to Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 152,500 dinars per 100 dollars, down from the previous session's 152,900 dinars.
In the Iraqi capital, exchange shops sold the dollar at 153,000 dinars and bought it at 152,000 dinars, while in Erbil, selling prices stood at 152,450 dinars and buying prices at 152,350 dinars.
https://shafaq.com/en/Economy/USD-slips-against-dinar-in-Baghdad-and-Erbil
Syrian Adviser Questions Economic Recovery Despite $46M Surplus
2026-05-04 Shafaq News- Damascus Early signs of economic “recovery” in Syria require cautious interpretation and do not necessarily reflect sustainable structural improvement, government economic adviser Ziad Arabsh told Shafaq News on Monday.
After a visit to Damascus under an “intensive engagement” program, the International Monetary Fund (IMF) pointed to improved economic activity, stronger consumption and trade, and a relative rise in consumer and investor confidence in the country. However, Arabsh said these indicators mask deeper weaknesses, citing estimates by the Syrian Center for Policy Research showing real growth did not exceed 0.3%, while per capita GDP declined by 6%.
He described the reported $46 million budget surplus in 2025, the first since 1990, as “fragile,” driven primarily by strict austerity measures rather than productive gains. Customs revenues accounted for about 39% of total income, while wages and salaries made up roughly 41% of spending, reflecting a focus on short-term support over long-term investment.
According to Arabsh, the relative improvement in activity is largely tied to temporary factors, including stronger agricultural output due to rainfall, limited easing of sanctions, and early signs of regional reintegration, though he warned that structural constraints –including weak infrastructure, high production costs, and liquidity shortages– continue to limit any sustainable recovery.
The government, he acknowledged, has made progress in halting deficit financing through the central bank, improving fiscal transparency, and implementing tax and customs reforms, but major challenges remain, particularly in governance and public sector restructuring.
“The reality is growth without development,” Arabsh said, as recovery indicators have not translated into improved living conditions, with poverty levels still high and large segments of the population facing food insecurity.
In the short term, Arabsh predicted that 2026–2027 could see a return to deficits as public spending expands, with oil revenues expected to play a larger role in state income, and over the medium term, recovery will depend on large-scale investment and reconstruction, requiring “hundreds of billions of dollars and the creation of hundreds of thousands of jobs.”
Arabsh concluded that the most likely scenario is a gradual but uneven recovery, warning of widening social gaps unless policies shift toward inclusive and sustainable development.
https://shafaq.com/en/Economy/Syrian-adviser-questions-economic-recovery-despite-46M-surplus
Gold Prices Fall In Baghdad And Erbil
2026-05-04 Shafaq News- Baghdad/ Erbil Gold prices declined Monday in Baghdad and Erbil markets, hovering below the million-dinar mark, according to a Shafaq News market survey.
On Baghdad's Al-Nahr Street, wholesale markets recorded a selling price of 980,000 IQD per mithqal (equivalent to five grams) for 21-carat Gulf, Turkish, and European gold, with a buying price of 976,000 IQD, down from 996,000 IQD the previous session.
Iraqi 21-carat gold sold at 950,000 IQD per mithqal, with a buying price of 946,000 IQD.
In jewelry stores, 21-carat Gulf gold ranged between 980,000 and 990,000 IQD per mithqal, while Iraqi gold sold between 950,000 and 960,000 IQD.
In Erbil, prices also fell, with 22-carat gold selling at 1.030 million IQD per mithqal, 21-carat at 982,000 IQD, and 18-carat at 842,000 IQD. https://shafaq.com/en/Economy/Gold-prices-fall-in-Baghdad-and-Erbil-5-8
Kirkuk Oil Exports Hold At 200K Bpd Amid Kurdistan Supply Drop
2026-05-04 Shafaq News- Kirkuk Iraq continues to export around 200,000 barrels per day (bpd) of crude oil from Kirkuk, despite a decline in supplies from the Kurdistan Region, sources at the North Oil Company told Shafaq News on Monday.
Approximately 30,000 bpd of the total exports has been supplied from the Kurdistan Region, the sources explained, adding that reduced production in the area in recent weeks, due to the suspension of operations by several oil companies, “has affected overall export volumes.”
A resumption of activity by these companies could increase export volumes through Turkiye to between 400,000 and 500,000 bpd.
“To offset part of the shortfall, the North Oil Company has begun transporting crude from southern fields within Kirkuk province, at a rate of about 50,000 bpd,” the sources said, noting that the oil is delivered by tanker trucks to the K1 station before being pumped through the Kirkuk–Kurdistan pipeline.
These measures are part of an operational plan aimed at maintaining stable oil flows and avoiding a sharp decline in exports amid technical and operational challenges affecting some fields. “The reliance on tanker transport is a temporary solution to sustain supplies until halted fields resume operations, and oil companies return to normal activity.”
The Kirkuk–Kurdistan pipeline remains a key export route, used to transport part of the province’s output along with additional volumes supplied from other areas. The current situation requires coordination between the Iraqi government and the Kurdistan Regional Government “to ensure stable production and exports.”
Read more: Iraq’s oil restart tests a fragile federal compact
https://shafaq.com/en/Economy/Kirkuk-oil-exports-hold-at-200K-bpd-amid-Kurdistan-supply-drop
Iranian Toman Approaches 200,000-Per-Dollar Threshold On Hormuz Tensions
2026-05-04 Shafaq News- Tehran The US dollar traded at around 190,900 tomans in Iran’s open market on Monday (1 toman = 10 rial) nearing the 200,000 threshold amid mounting pressure on the national currency.
Data from exchange monitoring platforms indicated continued upward movement, with traders expecting further gains if political and security tensions persist.
The rise came after US President Donald Trump announced that Washington would begin assisting stranded vessels in the Strait of Hormuz on Monday, guiding them out of the waterway under the initiative of “Project Freedom,” warning that any interference would be met with force. Iran, in turn, warned US forces against entering the strait, saying it would respond to any foreign military action it deems a threat.
ISX Reports About $4M In Weekly Trading
2026-05-04 Shafaq News- Baghdad The Iraq Stock Exchange (ISX) recorded more than 6 billion dinars in trading volume last week —roughly $4 million.
According to the recorded data, 3.92 billion shares were traded during the week. The ISX60 index closed at 983.02 points, reflecting a 0.39% decrease from the previous session.
Throughout the week, the exchange executed 5,736 sale and purchase contracts involving listed companies. A total of 67 companies saw their shares traded, while 29 firms recorded no transactions due to unmatched buy and sell orders. Eight companies remain suspended for failing to disclose financial data, out of 104 listed firms.
Non-Iraqi investors purchased 10 million shares worth 34 million dinars (about $22,300) through 25 transactions, while selling 8 million shares valued at 25 million dinars (roughly $16,400) across 48 transactions.
https://shafaq.com/en/Economy/ISX-reports-about-4M-in-weekly-trading
Syria’s New Customs System Disrupts Semalka Imports From Kurdistan
2026-05-04 Shafaq News- Damascus Imports from Iraqi Kurdistan through the Semalka border crossing in Syria’s Al-Hasakah province declined following the implementation of new procedures by Syria’s General Authority for Border Crossings and Customs, a source at the crossing told Shafaq News on Monday.
Dozens of traders have halted imports via Semalka and shifted to other Syrian crossings with Turkiye and Iraq, the source said, adding that activity has dropped by about half over the past three weeks compared with previous years.
Farhad Youssef, a customs broker, told our agency that the unified customs system imposed by the Syrian government includes strict restrictions on the entry of certain goods, along with extensive documentation requirements, at a time when state institutions in Hasakah are not fully operational.
“The new measures prompted brokers and shipping companies to take collective strike action starting today, halting cargo entry until further notice.”
According to Youssef, a meeting is expected between customs brokers, traders, and crossing authorities to discuss the procedures and seek solutions to facilitate trade with the Region.
Semalka previously operated under a customs system linked to the Autonomous Administration in northeast Syria before being brought under the Syrian government as part of the January 29 agreement between the Syrian Democratic Forces (SDF) and Damascus, implemented in mid-April.
On April 20, the Al-Yarubiyah–Rabia crossing with Iraq reopened after nearly 13 years of near-total closure due to security conditions and military operations in the region, becoming the third land route between Syria and Iraq following the earlier reopening of Al-Qaim–Al-Bukamal and Al-Waleed–Al-Tanf crossings.
https://shafaq.com/en/Economy/Syria-s-new-customs-system-disrupts-Semalka-imports-from-Kurdistan