Central Bank: Talk Of Printing New Currency Is Inaccurate, And The Gap With The Parallel Market Has Decreased To 9%
Baghdad/Iraq Observer The Governor of the Central Bank of Iraq, Nizar Nasser Hussein, confirmed on Thursday that there is no intention to print new currency, describing the news circulating in this regard as inaccurate. He also pointed out that the difference between the official exchange rate and the parallel market rate has decreased to 9%, after it had reached 24%.
The Media Department of the House of Representatives stated in a statement received by “Iraq Observer” that the Investment and Development Committee, headed by the oldest member, MP Nahida Al-Daini, visited the Central Bank of Iraq, accompanied by a number of its members, to discuss the repercussions of the change in the dollar exchange rate and its impact on the investment and economic realities, and the challenges facing investors and local companies.
The statement added that the committee reviewed the measures taken by the Central Bank to support the Iraqi economy, including supporting government and private banks to provide soft loans to citizens, ranging in value between 5 million and 15 million dinars.
The statement quoted the Central Bank Governor as confirming that there is no printing of currency, noting that what is being circulated in this regard is inaccurate, and indicating that the difference between the official exchange rate and the parallel market rate has decreased from 24% previously to 9% currently.
For its part, the committee stressed the need to reduce the impact of the exchange rate on the costs of implementing investment projects, the prices of raw materials and contractual obligations, as well as its repercussions on market stability and the purchasing power of citizens, calling for well-thought-out solutions that balance the requirements of monetary stability and the protection of economic and investment activity.
The committee stressed the importance of strengthening coordination between the Central Bank, government agencies and the banking sector, removing obstacles facing investors and facilitating banking financing procedures, in order to ensure the continuity of investment projects and not burden investors and citizens with additional burdens.
She pointed out that the stability of monetary policy and the clarity of banking procedures are a fundamental pillar for creating an attractive investment environment, stressing the continued monitoring of priority economic files and working to provide practical recommendations that support investment, protect the interests of citizens and strengthen the national economy
https://observeriraq.net/البنك-المركزي-الحديث-عن-طباعة-عملة-نقد/
MP: 2027 Budget To Reach Parliament Mid-Next Month
Information/Special... Member of Parliament, Rabie al-Moussawi, revealed today, Thursday, the expected date for sending the draft federal budget law for 2027 to Parliament. He indicated that parliamentary estimates suggest the financial tables and articles will arrive by the middle of next month, allowing for discussions to begin in Parliament.
Al-Moussawi told the Information Agency, “The existing data and understandings confirm that the government is finalizing the draft 2027 budget law, and it is hoped that it will be officially submitted to Parliament by the middle of next month.”
He noted that "the Finance Committee and parliamentary blocs are awaiting the draft to begin a detailed study of all its articles and figures."
He added that "Parliament is waiting for the budget tables to scrutinize sensitive files related to revenue volume and ensure the rights of the provinces and eligible segments of society."
He stressed that "Parliament will not hesitate to make the necessary transfers and amendments to guarantee the fair distribution of wealth and prevent any financial injustice, paving the way for a final vote and its approval according to constitutional timelines." End/25
A Difference Of 20,000 Dinars For Every 100 Dollars... A Member Of Parliament Reveals A Flaw In The Budget Calculations.
Information/Baghdad... Member of Parliament, Mohammed Araboud, revealed on Thursday a fundamental financial problem in the draft general budget law concerning the calculation of the dollar exchange rate. He also warned of the crisis continued in managing oil revenues and its direct repercussions on the country's financial stability.
Araboud told the Information Agency that "the issue of oil revenues and their expenditure represents a long-standing and complex problem within the state's economic system, and it is not expected to be resolved or find radical solutions in the short term."
He explained that "this issue casts a heavy shadow on the general budget estimates and creates a state of financial uncertainty."
He added that "a major error was observed in the mechanism for calculating the dollar exchange rate in the draft budget, as the estimated figures were based on the previous rate of 132,000 dinars per 100 dollars.
" He pointed out that "this fixed rate contradicts reality after the recent cabinet decisions, which have created a difference of approximately 20,000 dinars per 100 dollars."
He stressed that "this exchange rate fluctuation, coupled with the uncertainty surrounding the stability of oil revenues, will present Parliament and the government with inevitable and complex economic challenges that require scrutiny and adjustments to the financial schedules to prevent a widening of the budget deficit and ensure the accuracy of operational and investment figures." End/25h
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Parliamentary Finance Committee: Pension Salary Deficit Reaches 360 Billion Dinars And Is Increasing Monthly
Shafaq News - Baghdad On Wednesday, Hussein Al-Daraji, a member of the parliamentary finance committee, revealed that there is a deficit in pension salaries amounting to 360 billion dinars, noting that it is increasing monthly.
Al-Daraji told Shafaq News Agency that the Finance Committee in the House of Representatives hosted, on Tuesday, the Director General of the National Retirement Authority to discuss the general and financial situation in the Authority, and it became clear through this hosting that there is a deficit in retirement salaries amounting to 360 billion dinars and increasing monthly.
He added that the number of retirees is about 3 million in Iraq, including 1.81 million civilian retirees and 1.221 million military retirees.
He explained that the rate of employees referred to retirement ranges between 7,500 and 8,500 employees per month, indicating that the Ministry of Finance supports maintaining the referral of employees to retirement when they reach the age of sixty, without changing this procedure.
The salary file in Iraq is suffering from financial pressures, as the past months have witnessed delays in the disbursement of salaries to government employees and retirees due to a lack of financial liquidity and a decline in revenues.
Iraq’s public finances are facing a growing gap between revenues and expenditures, as government data showed that the deficit between state revenues and expenditures reached about 30.4 trillion dinars during the first eight months of 2026.