Iraq Economic News and Points To Ponder Thursday Afternoon 8-6-26
Slemani Market Spokesperson Jabar Goran Predicts Iraqi Dinar Strengthening
@Channel8English Slemani Market Spokesperson Jabar Goran Predicts Iraqi Dinar Strengthening Speaking to Channel8, Jabar Goran, spokesperson for the Slemani currency market, stated that the Iraqi dinar could strengthen against the US dollar if political conditions in Iraq stabilize and tension surrounding vital trade routes, such as the Strait of Hormuz, eases.
Key Highlights: Economic Impact: Political stability in Iraq and uninterrupted maritime trade are crucial drivers for strengthening the local currency.
Exchange Rate Outlook: Goran anticipates that the US dollar exchange rate could decline to between 142,000 and 147,000 IQD per $100, reflecting a stronger position for the dinar.
8:23 AM · Aug 6, 2026 https://x.com/Channel8English/status/2085355965499515380
Prominent Officials And Mps Disappear From The Scene As New Lists Of Accused Circulate… Al-Mada: The “Dawn” Campaign Has Lost Some Of Its Momentum
latest newsThursday,August 6, 2026Baghdad - One News - Al-Mada newspaper, quoting political sources, revealed that the “Dawn” anti-corruption campaign has not stopped, despite the decline in its media momentum during the past period, stressing that it has entered a more complicated stage due to parliamentary immunity, political balances and weapons files, amid expectations of restoring its activity after September 30.
According to the newspaper, more than one hundred MPs have been avoiding attending House of Representatives sessions since the start of the campaign, while a number of officials and prominent MPs have disappeared from the scene, coinciding with the circulation of new lists containing the names of those accused of corruption cases.
The newspaper quoted its sources as saying that the campaign has not ended, but has lost some of its momentum as a result of overlapping government priorities, foremost among them the security files, the arms control and the financial crisis, expecting it to return strongly after these files are completed.
For his part, political researcher Basil Hussein told Al-Mada that the campaign faced political and armed resistance, and that its approach to influential figures (such as Maliki) raised its political cost, noting that the multitude of challenges facing the government contributed to the decline in its momentum during the current stage.
The newspaper added, quoting political sources, that there were unwritten understandings that kept former prime ministers and a number of figures who founded the political process out of the circle of prosecution, while practical measures were limited to a small number of files, most notably within the Ministry of Oil, and included the two undersecretaries of the ministry, Adnan al-Jumaili and Ali Ma’araj.
Al-Mada indicated that the funds recovered so far are estimated at about 250 billion dinars, compared to estimates that speak of the existence of about 200 billion dollars of funds related to corruption cases.
For his part, political analyst Ghaleb al-Da'mi told the newspaper that the return of the House of Representatives to session and the end of the legislative recess made the procedures for lifting immunity more difficult, which led to a temporary lull in the campaign, without meaning that it had stopped. Source: Al-Mada Newspaper
https://1news-iq.net/مسؤولون-ونواب-بارزون-يغيبون-عن-المشهد/
An Economist Says Iraq Has Entered A Phase Of "Paying The Price" As A Result Of Accumulated Mismanagement And Corruption - Urgent
Baghdad Today - Baghdad Economic expert Ziad Al-Hashemi said on Tuesday (August 4, 2026) that Iraq has entered a phase of "paying the price" for what he described as the accumulation of failures, corruption and mismanagement over more than twenty years, considering that the current crisis is the result of the policies of successive governments, in addition to the responsibility of political parties, parliament and oversight institutions.
Al-Hashemi said, in a statement followed by “Baghdad Today”, that financial and administrative losses and failures have accumulated during the past years without real treatment, accusing political forces of being preoccupied with “dividing the spoils”, while the regulatory and legislative bodies were unable or negligent in performing their role in accountability and reform.
He added that, in his view, the responsibility is not limited to governments, but extends to the parliament that approved large budgets, the political forces that dealt with the state according to the logic of power-sharing, as well as regulatory institutions, elites, media and the public, some of whom he said contributed, to varying degrees, to the continuation of the existing approach.
Al-Hashemi pointed out that Iraq is not facing a temporary liquidity crisis, but rather is going through the repercussions of what he described as an economic and political system that relied on quotas, corruption and buying loyalties, considering that the reform opportunities that were available during the years of financial abundance were not invested in building a diversified economy that is more capable of facing crises.
He warned that continuing to address the crisis through borrowing or postponing payments, without implementing structural reforms, could prolong the economic challenges, stressing that the cost of this would be borne by the citizens.
Economic and political experts offer differing views on the causes of the crisis and ways to address it, amid repeated calls for the implementation of financial and economic reforms, diversification of income sources, and a reduction in dependence on oil. https://baghdadtoday.news/304321-.html
Iraqi Parliament Calls Emergency Session Over Fiscal Crisis
Shanya Salar
At a Glance
148 MPs back emergency session
Finance minister to brief lawmakers
Oil revenue trails monthly spending needs
Salary funding among top priorities
The Iraqi Council of Representatives will hold an extraordinary session on Saturday to address the country's worsening fiscal crisis and delayed public sector salaries, as lawmakers seek urgent measures to close a widening budget gap.
Key Statements and Focus Area
Iraq's monthly oil revenue has fallen to 2.5 trillion IQD, while monthly obligations are estimated at 10 trillion IQD.
Lawmakers will discuss emergency fiscal measures, including alternative revenue sources and possible borrowing legislation.
The session will focus on securing public sector salaries and maintaining essential government operations.
According to information obtained by Channel8, the Iraqi Council of Representatives will convene an extraordinary session on Saturday to discuss the country's growing financial challenges and delays in paying public sector salaries.
The session comes as declining oil revenues have significantly reduced government income, increasing pressure on the federal budget and prompting lawmakers to consider urgent legislative solutions.
A total of 148 members of parliament signed a formal request for the emergency session, arguing that the country's financial situation requires immediate legislative intervention.
Finance Minister Faleh al-Sari is expected to attend the session after requesting an opportunity to present the latest figures on Iraq's fiscal position and explain the government's financial outlook.
Lawmakers are expected to discuss a broader emergency fiscal strategy aimed at strengthening state revenues, maintaining market confidence, and ensuring the continuity of government spending.
Parliament is expected to examine a range of legislative options, including temporary fiscal measures, new borrowing authorizations, and proposals to reduce public spending in an effort to address the budget shortfall.
The primary objective is to secure funding for public sector salaries and other essential government obligations while addressing the widening gap between revenues and expenditures.
Iraq continues to rely on crude oil exports for more than 90% of federal revenues, leaving public finances highly exposed to fluctuations in global oil prices.
According to the figures obtained by Channel8, monthly oil revenues have fallen to approximately 2.5 trillion Iraqi dinars, while the government requires an estimated 10 trillion dinars each month to finance salaries and essential ministry operations.
The widening gap has increased pressure on the state budget and raised concerns over the government's ability to meet its financial commitments without additional policy measures.
FYI
Iraq's federal budget remains heavily dependent on oil exports, making government revenues vulnerable to movements in global energy markets. In recent months, lower oil prices have reduced monthly income while expenditure commitments have remained largely unchanged. Iraqi authorities have increasingly explored measures such as expenditure rationalization, non-oil revenue generation, and additional financing mechanisms to maintain salary payments and essential public services. https://channel8.com/english/news/63092