Iraq Economic News and Points To Ponder Sunday Afternoon 9-28-25
Prime Minister: A Historic Agreement Has Been Reached To Export Oil From The Region's Fields Through The Iraq-Turkey Pipeline
Thursday, September 25, 2025, | Economics Number of readings: 132 Baghdad / NINA / Prime Minister Mohammed Shia al-Sudani announced reaching a historic agreement to export the region's oil fields through the Iraqi-Turkish pipeline.
Al-Sudani said in a post on the X platform: Today we reached a historic agreement under which the Federal Ministry of Oil will receive the crude oil produced from the fields located in the Kurdistan Region and export it through the Iraqi-Turkish pipeline.
He added, "This ensures the equitable distribution of wealth, diversifies export outlets, and encourages investment, and it is an achievement we have waited for 18 years." https://ninanews.com/Website/News/Details?Key=1253729
SOMO To Nina: Iraqi Talks For New International Marketing Opportunities
Saturday, September 27, 2025, | Economics Number of readings: 220 Baghdad / NINA / The Iraqi Oil Marketing Company (SOMO) revealed that Iraqi negotiations are underway to pursue new international marketing opportunities to maximize revenues.
The Director General of the State Oil Marketing Organization (SOMO), Ali Nizar, told the National Iraqi News Agency ( NINA ) that "the Turkish side emphasized the importance of Iraq to its country as an effective supplier of energy resources (oil, gas and their derivatives)."
He added, "The new agreement that the Turkish side seeks to achieve is a diversified energy agreement (between oil, gas and other energy sources), and this is an indication of Turkey's interest, as well as Iraq's interest in joint cooperation between the two countries in the region."
Regarding the government's orientations to open new horizons for exporting oil through Syria and Lebanon, he explained that "SOMO, based on its logistical and economic role and tasks, views every outlet that can export Iraqi crude oil to the targeted global market as a source of new opportunities that we are working on."
He added, "We are in discussions with the Syrian side at the highest levels with the return of security stability there, as the Minister of Oil and Prime Minister recently stated. We are also seeking to reach Lebanon and Oman, where memoranda of understanding were signed with the Omani side to establish tanks.
Discussions are still ongoing regarding extending a new pipeline with Lebanon and obtaining safe and stable outlets for exporting oil." Iraqi, reaching our customers in Asia, the Middle East, the Far East, Europe, Africa and the Americas. https://ninanews.com/Website/News/Details?key=1254021
Al-Sudani Makes Phone Calls To A Number Of Leaders In The Kurdistan Region Of Iraq.
Saturday, September 27, 2025, 17:48 | Politics Number of reads: 246 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani made phone calls on Saturday with the President of the Kurdistan Democratic Party (KDP) Masoud Barzani, the President of the Kurdistan Region of Iraq Nechirvan Barzani, the Prime Minister of the Kurdistan Regional Government Masrour Barzani, and the President of the Patriotic Union of Kurdistan (PUK) Bafel Talabani.
In his calls, Al-Sudani expressed his appreciation for the positions of the Kurdish leaders and forces that participated in achieving the recent agreement to resume the export of crude oil produced in the region, and deliver its revenues to the central treasury, and siding with the interests of our Iraqi people everywhere, and the concerted efforts between the federal government and the regional government that led to the agreement in accordance with the requirements of the constitution and the budget law.
They also emphasized the need to continue with everything that enhances national development, advances the comprehensive national interest, and embodies the common goals of achieving comprehensive economic progress, preserving wealth and its fair distribution for all our Iraqi people, in all parts of Iraq.
The communications also emphasized support for investments in Iraq, as they are the primary engine for creating comprehensive development in the country and bringing about a qualitative shift in the Iraqi economy. https://ninanews.com/Website/News/Details?Key=1254024
Central Bank Job Performance Evaluation On National Job Day Is A Project Merit
Samir Al-Nusairi Economy News – Baghdad On the National Job Day, which Iraq celebrates for the third time, Prime Minister Eng. Mohammed Shia Al-Sudani was keen to meet with job elites, cadres and distinguished employees in all fields, stressing that job excellence in all fields has contributed to achieving security and stability and pushing the wheel of reconstruction and development forward, clearly indicating that economic reform cannot be achieved without financial and banking reform.
On this occasion, we must evaluate the distinguished efforts made by the specialized administrative and technical leaders and distinguished employees in the Central Bank who contributed effectively to implementing what was stated in the government program in Axis 12 (Financial and Banking Reform) during the years (2023-2025).
The Central Bank's Third Strategy And The Comprehensive Banking Reform Project.
The Central Bank has been able to achieve economic growth and stability amidst the extremely complex economic, security and political conditions the world is experiencing, impacting our country both positively and negatively. It has been able to implement developmental, structural and technical policies and programs, and take numerous measures in cooperation with the government to regulate foreign trade financing, control foreign transfers, maintain order in the global financial and banking system, comply with international standards, and move away from the electronic platform.
It has also achieved the main and sub-goals of its third strategy and begun implementing the comprehensive banking reform project in accordance with the paths outlined in cooperation with the global consulting firm Oliver Wyman.
This aims to enable the banking sector to grow and develop, to become a solid, comprehensive, modern and flexible sector that works diligently to build a rapidly growing national economy, contribute to development and investment, create a cumulative increase in the gross domestic product, provide one million job opportunities for the unemployed, and raise the market value of the private banking sector, in addition to increasing foreign investment.
Analysis of monetary policy indicators as of 6/30/2025 indicates the building of foreign exchange reserves of approximately $100 billion, and the Central Bank’s gold reserves recorded a significant growth rate of (55%), as their value reached (22. trillion dinars, equivalent to 167 tons, in the same period, compared to their value of (14.7) trillion dinars in the second quarter of 2024.
The decline in the issued currency contributed to the decline in the inflation rate, which maintains the stability of the general price level, as the currency issued by the Central Bank recorded a decline in the rate by (3.8%), reaching (98.4) trillion dinars in the same period, compared to its value of (102.3) trillion dinars in the second quarter of 2024.
The decrease in the inflation rate also indicates a decrease in the general price level, as inflation recorded a low rate of (76%), reaching (0.8%) compared to the second quarter of 2024, which reached (3.3%) and 7.5 in January 2023.
This confirms that the Central Bank has been able to build fundamental pillars for monetary and economic stability and achieve the most important objectives of monetary policy.
Therefore, on National Job Day, we stand with respect for the efforts of the Governor of the Central Bank and his distinguished cadres who achieved the above accomplishments. I hope that the Prime Minister will evaluate these efforts, which is a legitimate entitlement. https://economy-news.net/content.php?id=60416
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