Iraq Economic News and Points To Ponder Thursday Afternoon 6-26-25
Expert: Economic Stability In Iraq...And Identifies A Prominent Reason
Time: 2025/06/26 Reading: 225 times {Economic: Al Furat News} Economic expert Abdul Rahman Al Mashhadani confirmed that Iraq is currently experiencing a degree of local economic stability, attributing this to continued government support for the fuel sector and energy provision.
Al-Mashhadani explained in a statement to Al-Furat News that: "The stability includes subsidized gasoline, diesel, and gas, in addition to providing free fuel to private generators to ensure the continuity of electricity for citizens."
He pointed out that "the ampere prices set by the Baghdad Provincial Council for this month were identical to those set last month, indicating relative stability in this aspect of services."
However, Al-Mashhadani warned that "this stability could be negatively impacted if the war continues, especially given the potential for the security situation to deteriorate as a result of the conflict escalating in Iraqi airspace." He noted that "the calm of the government and citizens, along with the end of the war, played a significant role in maintaining economic stability across all sectors." LINK
Sudanese Advisor: The Ceasefire Agreement Provided Temporary Relief To Oil Markets.
Energy Economy News – Baghdad The Prime Minister's financial advisor, Mazhar Mohammed Saleh, confirmed on Thursday that the ceasefire agreement between Iran and the Zionist entity has returned oil markets to a downward trend.
Saleh told the official agency, followed by Al-Eqtisad News, that "following the announcement of a ceasefire agreement between Iran and the entity, which halted threats to close the vital Strait of Hormuz - threats issued within the context of escalation with the entity - oil markets returned to a downward path and headed towards peace indicators, after a sudden hedging wave that it witnessed at the height of tension."
He added, "The Strait of Hormuz is strategic, through which approximately 20% of the world's crude oil passes, in addition to a third of liquefied natural gas supplies destined for international markets under ongoing, long-term contracts.
" He noted that "the decision to cease the war has given energy markets a strong positive signal indicating the stability of supply routes, especially in the world's most important energy corridor."
“This was directly reflected in Brent crude prices, which are considered a benchmark for oil pricing, as they recorded an immediate drop of more than 5%, equivalent to $3 to $4 per barrel in a single session.
This is considered one of the largest daily declines in recent times, which means the end of the threat and the return of balance to the market,” he continued, stressing that “the end of the threats that were threatening the Strait of Hormuz and the return to the language of calm represented a temporary moment of relief for the markets.
However, in reality, this relief does not necessarily mean long-term stability, as the fragility of the truce and the possibility of renewed clashes if diplomatic efforts fail, maintain a high level of caution in future forecasts.”
He explained that "the market is now pricing oil and is once again being affected by traditional economic factors: from weak demand, to OPEC+ production policies, to competition between exporting countries from within and outside the organization.
" He pointed out that "public finances in Iraq must adhere to the constants of hedging and financial discipline included in Law No. 13 of 2023 (the three-year budget), which is spending according to the optimal minimum requirements and resorting to domestic borrowing when needed, as permitted by the law and in a way that does not disrupt basic operational and investment expenditures, even with the disappearance of the (strategic oil premium) generated by threats to the Strait of Hormuz." https://economy-news.net/content.php?id=56663
Parliamentary Warnings Of The Repercussions Of Dependence On Oil
Buratha News Agency1452025-06-26 The Parliamentary Finance Committee warned on Thursday, June 26, against continuing to rely on oil prices, as it is considered a risk to the Iraqi economy.
Committee member Mustafa Al-Karawi told Al-Sumaria TV that, “There was an increase in oil prices during the past crisis represented by the war between the Islamic Republic of Iran and the usurping Zionist entity, due to market turmoil and export problems. Consequently, this increase was reflected positively in the country’s financial aspect.” He added,
“However, in general, this is not considered a real increase, as there are circumstances that may affect the reduction of the oil price to below the normal price, and thus continuing to rely on oil prices is considered a risk to the Iraqi economy.”
He explained that "another parallel economy must be built to compensate and support the country in the event of any external problems, given that oil prices are controlled by others. In contrast, the internal economy and non-oil revenues can be in the hands of the Iraqi government.
" He indicated, "We hope for security and economic stability in the region so that there is no direct impact on the country or on neighboring Islamic countries." https://burathanews.com/arabic/economic/462060
Iraq's Oil Exports Exceed 500 Million Barrels In Five Months
Energy Economy News – Baghdad Iraq's oil exports in the first five months of 2025 exceeded 500 million barrels.
According to statistics announced by SOMO, "Iraq's total oil exports during the first five months of this year amounted to 507 million, 699 thousand, and 760 barrels, at a rate of 101 million, 539 thousand, and 932 barrels per month."
She added, "The total oil exported from the Basra and central fields from Basra ports amounted to 492 million, 543 thousand, and 872 barrels, while the total exported from the Qayyarah field from Kirkuk amounted to 4 million, 745 thousand, and 590 barrels."
Statistics also indicated that "oil exports from the modern Kirkuk depot to Jordan during this period amounted to 1,649,316 barrels." According to SOMO, "financial revenues from exports for the months of March, April, and May amounted to $20 billion, 816 million, 452 thousand, and 330 dollars." https://economy-news.net/content.php?id=56665
Dollar Exchange Rate Fluctuations Against The Dinar In Baghdad
Economy | 10:46 - 06/26/2025 Mawazine News - Baghdad - The US dollar exchange rate witnessed a decline in local markets on Thursday morning.
It decreased slightly on the Al-Kifah and Al-Harithiya stock exchanges, recording 141,400 Iraqi dinars for every $100, while yesterday morning, Wednesday, it recorded 141,500 dinars for every $100.
Selling prices in exchange shops in local markets in Baghdad also stabilized, with the selling price reaching 142,500 Iraqi dinars for every $100, and the purchase price reaching 140,500 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=263102
The Minister Of Interior Affirms Iraq's Keenness To Consolidate Cooperation With NATO In The Areas Of Training And Capacity Building.
A wish | 06/26/2025 Mawazine News - Baghdad - Interior Minister Abdul Amir Al-Shammari affirmed, on Thursday, his keenness to enhance coordination with NATO, especially in the field of training and capacity building.
The ministry said in a statement received by Mawazine News: "Interior Minister Abdul Amir Al-Shammari met with the Commander of the NATO Mission in Iraq, Major General Christophe Hintery, and his accompanying delegation."
The statement added, "At the beginning of the meeting, the Minister welcomed his guests and discussed with them a number of topics of common interest, most notably the Iraqi Ministry of Interior's readiness to cooperate with the mission in all training fields. Regional developments were also discussed during this meeting."
According to the statement, the Minister stressed his keenness to "strengthen bilateral relations and enhance coordination, especially in the field of training and capacity building."
For his part, the NATO Commander praised "the remarkable security stability in all Iraqi governorates, appreciating the efforts of the Iraqi Ministry of Interior in supporting security work and its cooperation in the field of training, especially as it is an advanced ministry in security issues."
The statement added, "The meeting discussed cooperation in the fields of cybersecurity, international border control, combating drugs, and training operations for the Federal Police Forces Command." https://www.mawazin.net/Details.aspx?jimare=263115
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