Dollar Rises In Baghdad, Erbil Markets
2026-11-14 02:42 Shafaq News- Baghdad/ Erbil The US dollar opened Saturday’s trading higher in Iraq, hovering around 169,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad’s Al-Kifah and Al-Harithiya exchanges at 169,350 dinars per 100 dollars, up from the previous session’s 169,150 dinars on Thursday.
In the Iraqi capital, exchange shops sold the dollar at 169,750 dinars and bought it at 168,750 dinars, while in Erbil, selling prices stood at 169,300 dinars and buying prices at 169,200 dinars.
https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-Erbil-markets-9
Gold Prices Fall In Baghdad, Erbil Markets
2026-11-14 04:36 Shafaq News- Baghdad/ Erbil On Saturday, gold prices hovered around 930,000 IQD per mithqal in Baghdad and Erbil markets, continuing their downward trend, according to a Shafaq News market survey.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 920,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 916,000 IQD. The same gold had sold for 940,000 IQD on Thursday.
The selling price for 21-carat Iraqi gold stood at 890,000 IQD, with a buying price of 886,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 920,000 and 930,000 IQD, while Iraqi gold sold for between 890,000 and 900,000 IQD.
In Erbil, 22-carat gold was sold at approximately 987,000 IQD per mithqal, 21-carat gold at 943,000 IQD, and 18-carat gold at 808,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-fall-in-Baghdad-Erbil-markets-6
Domestic Debt In Iraq Tops $77.6B
2026-11-14 07:41 Shafaq News- Baghdad Iraq's domestic public debt rose 29.5% during the first nine months of 2026, Central Bank of Iraq (CBI) data show, exceeding 117.2 trillion Iraqi dinars ($77.62 billion) by the end of September.
Domestic debt rose by approximately 3.7 trillion dinars ($2.45 billion) from 113.4 trillion dinars ($75.10 billion) in August.
The Central Bank's claims on the Finance Ministry accounted for the largest share of domestic debt at 80.499 trillion dinars ($53.31 billion), or 68.7% of the total. Loans followed at 18.932 trillion dinars ($12.54 billion), bonds at 9.330 trillion dinars ($6.18 billion), and Treasury bills at 8.461 trillion dinars ($5.60 billion).
Iraq's domestic debt has risen steadily in recent years, from 70.5 trillion dinars ($46.69 billion) at the end of 2023 to 83.05 trillion dinars ($55 billion) in 2024 and 90.5 trillion dinars ($59.93 billion) in 2025.
https://www.shafaq.com/en/Economy/Domestic-debt-in-Iraq-tops-77-6B
Basrah Crude Loses Over 12% On Week
2026-11-14 01:46 Shafaq News- Basrah Iraq’s Basrah crude ended the week down more than 12%, despite gains in the final trading session.
Basrah Heavy crude climbed by $2.84, or 6.23%, in the final session to settle at $48.41 per barrel, but recorded a weekly loss of $7.25, or 13.03%, from $55.66 at the start of the week.
Basrah Medium crude rose by $2.84, or 5.73%, to close at $52.41 per barrel, posting a weekly loss of $7.25, or 12.15%, from its opening level of $59.66.
Brent crude traded at $95.96 per barrel, up 14 cents, or 0.15%, while US West Texas Intermediate crude (WTI) rose 5 cents, or 0.06%, to reach $88.79 per barrel before the close.
https://www.shafaq.com/en/Economy/Basrah-crude-loses-over-12-on-week
Iraq Begins Drilling New Well Under East Baghdad Project
2026-11-14 06:10 Shafaq News- Baghdad The Iraqi Drilling Company has begun drilling a new oil well at the East Baghdad South field under a 17-well project for field operator EBS Petroleum, Iraq’s Oil Ministry said on Saturday.
Drilling began after crews installed the rig, completed the necessary technical checks and confirmed its readiness, company Director General Mohammed Hantoush said.
The company described the work as part of efforts to expand its operations and participation in oilfield development projects.
EBS Petroleum is a subsidiary of China’s ZhenHua Oil. On September 22, the Oil Ministry announced the inauguration of a gas-processing unit at the field with a capacity of 30 million standard cubic feet per day. According to Oil Minister Basim Mohammed Khudair, the project will support the national electricity grid, reduce reliance on imported fuel, and cut harmful emissions in Baghdad.
Read more: Iraq only Middle East country in major 2026 oil projects
https://www.shafaq.com/en/Economy/Iraq-begins-drilling-new-well-under-East-Baghdad-project
Dollar Rise Pushes Diyala Prices Up 15%
2026-11-14 09:52 Shafaq News- Diyala Prices of goods in Iraq's Diyala province have risen 15% due to the higher dollar exchange rate on the parallel market, Diyala Chamber of Commerce Chairman Mohammed Sami Al-Mulla Jawad told Shafaq News on Saturday.
Al-Mulla Jawad warned that the closure of the Mandali border crossing with Iran could further increase prices by disrupting supplies of food, vegetables, and fruit. Diyala relies heavily on imported goods because of its location along the Iranian border.
The rising cost of basic goods has placed additional financial pressure on residents, particularly low-income families. The dollar is trading at around 170,000 Iraqi dinars per $100 on the parallel market, despite the prime minister's stated goal of bringing the rate down to 155,000 dinars per $100, according to Al-Mulla Jawad.
He urged the government to fulfill its exchange-rate commitments and take immediate action to curb price increases and maintain supplies.
Read more: Can Iraq’s economy weather a wider regional shock? Experts differ
https://www.shafaq.com/en/Economy/Dollar-rise-pushes-Diyala-prices-up-15
Rafha Salaries, Kurdistan Share Delay Iraq's 2027 Budget
2026-11-14 13:30 Shafaq News- Baghdad Disputes over compensatory salaries for certain groups, particularly former Rafha* detainees, allocations for some provinces, and the Kurdistan Region's budget share are delaying Iraq's 2027 federal budget, a political source told Shafaq News on Saturday.
Disagreements between the Kurdistan Region's two main political parties have also complicated the budget's approval, with political agreements crucial to resolving the outstanding issues, according to the source.
Meanwhile, Iraq's Council of Ministers plans to submit the draft budget to parliament next week after a special committee completes amendments to the disputed provisions, a source in parliament's Finance Committee told Shafaq News.
The draft will then undergo review by the Finance Committee before being placed on parliament's agenda for a reading. If parliamentary blocs agree on its provisions, the budget could pass before the end of 2026.
Earlier, Finance Committee member Nasser al-Turki told Shafaq News that political disagreements had delayed a cabinet vote on the proposed budget.
Read more: Kurdistan Parliament deadlock through four political lenses
*The Rafha detainees were Iraqis who sought refuge in a Saudi Arabian camp after the 1991 uprising against Saddam Hussein.
https://www.shafaq.com/en/Economy/Rafha-salaries-Kurdistan-share-delay-Iraq-s-2027-budget
Former PM Al-Sudani Rejects Claims Of "Empty Treasury"
2026-11-14 11:10 Shafaq News- Baghdad Former Iraqi Prime Minister Mohammed Shia al-Sudani defended his government's financial record on Saturday, rejecting claims that it had left state coffers empty and arguing that his administration spent 450 trillion dinars ($296.05 billion) of the 660 trillion dinars ($434.21 billion) approved under the three-year budget.
Speaking at a discussion forum in Baghdad, al-Sudani cited the growth in Iraq's budget, which stood at $24 billion in 2004, under former Prime Minister Iyad Allawi, compared with an estimated $150 billion to $170 billion today. He questioned the reasons behind the increase and called for practical solutions and greater transparency with the public.
Al-Sudani also broke down the 2025 budget, which totaled 150 trillion dinars ($98.68 billion). Around 100 trillion dinars ($65.79 billion) went toward public-sector salaries, pensions, and social welfare, while 25 trillion dinars ($16.45 billion) covered sovereign obligations and government operating expenses.
The remaining 25 trillion dinars ($16.45 billion) was allocated to investment, including 13 trillion dinars ($8.55 billion) for payments under oil licensing rounds and 12 trillion dinars ($7.89 billion) for services provided by ministries and provincial administrations.
Addressing claims that his administration had handed over an "empty treasury" to its successor, al-Sudani accused critics of spreading misinformation and urged academics, analysts, and media figures to present an accurate picture of the country's financial situation rather than turn the debate into a personal dispute.
He also stressed that neither his government nor previous administrations could spend public money outside the budget approved by parliament. "Borrowing is subject to legal authorization," he added, noting that the budget deficit stood at 70 trillion dinars ($46.05 billion), while the budget law authorized borrowing of 35 trillion dinars ($23.03 billion).
Read more: $45B deficit looms over Iraq’s draft 2027 budget
Regarding the oil sector, he said Iraq had been producing five million barrels per day while continuing to import petroleum products. During the final months of his government's term, the country had achieved self-sufficiency in petroleum products, he added, before regional conflict disrupted that progress.
Al-Sudani rejected cuts to public-sector salaries as a way to ease the country's financial pressures, pointing to the 21 trillion dinars ($13.82 billion) spent on the electricity sector alone. He also identified Iraq's oil, industrial, and agricultural resources, alongside its workforce, as assets that could help the country achieve self-sufficiency.
The remarks come amid a political dispute over the financial obligations inherited by Prime Minister Ali al-Zaidi's government, which succeeded al-Sudani's administration. Last month, Iraqi lawmaker Youssef al-Kalabi challenged the former premier to appear before parliament and explain the country's debt, which he claimed had reached 208 trillion dinars ($136.84 billion).
Read more: Iraq turns to bank borrowing to cover August salaries amid oil-revenue collapse
https://www.shafaq.com/en/Economy/Former-PM-Al-Sudani-rejects-claims-of-empty-treasury