Iraq Economic News and Points To Ponder Tuesday Morning 1-13-26
An Economist Explains The Budget And Spending Mechanism (1/12) Under The Caretaker Government.
Time: 2026/01/13 {Economic: Al-Furat News} Economic expert Salah Nouri explained on Tuesday the legal foundations for submitting and approving the federal general budget, and the financial disbursement mechanisms adopted in the event of its non-approval, especially in light of the caretaker government situation.
Nouri pointed out in his statement to Al-Furat News Agency that “Article (11) of the Federal Financial Management Law No. (6) of 2019 stipulated that the draft federal general budget law be submitted by the Council of Ministers to the House of Representatives before the middle of October of each year.”
He explained that “Article (13), Paragraph Three, dealt with the situation of the House of Representatives not approving the draft budget law until 12/31 of the fiscal year, as the final financial statements for the previous year are considered the basis for the financial statements for the current year, and are submitted to the House of Representatives for the purpose of approving them.”
He added that "the current situation is that the government is a caretaker government, and therefore paragraph one of Article (13) is applied, which allows spending at a rate of 1/12 of the total actual expenditures of the previous year, after excluding non-recurring expenditures for the current and investment budgets." From... Ragheed LINK
Interior Ministry Announces Arrest of 91 Individuals for Manipulating Dollar Exchange Rates
Baghdad – INA The Ministry of Interior announced on Tuesday the arrest of 91 individuals on charges of manipulating U.S. dollar exchange rates.
The ministry’s spokesperson, Major General Miqdad Miri, said during a press conference attended by the Iraqi News Agency (INA) that security forces had succeeded in arresting 91 persons accused of manipulating dollar prices.
He added that the ministry had also arrested 147 individuals for manipulating the prices of food commodities and medicines, noting that the Ministry of Interior has contracted for 100 fixed and mobile radar units to monitor external highways.
Interior Ministry: Those Manipulating Food And Dollar Prices Apprehended... Traffic Directorate Reveals The Number Of Cars In Iraq
Time: 2026/01/13 11:51:13 Reading: 180 times {Local: Al-Furat News} The Ministry of Interior announced on Tuesday the arrest of a number of people manipulating the prices of food, medicine and the dollar exchange rate, while the Director of the General Traffic Directorate revealed that more than 8 million vehicles have been registered in Iraq since 2003, as part of efforts to enhance control and safety on the roads.
Traffic Director General, Lieutenant General Uday Samir, said at a conference of the Ministry of Interior, which was followed by Al-Furat News, that “the Traffic Directorate has developed specialized curricula for primary, intermediate and preparatory school students, and the Ministry of Education has been contacted to include these curricula in the teaching curriculum.”
He added that "there were random processes in reviewing registration departments, and this has been organized electronically through registration in the Ain Iraq application, and the use of a single window to complete transactions."
Samir pointed out that "27 sites have been built in Baghdad and the provinces, and there are 8 sites under construction, with work being done to ensure that these sites are fully integrated," indicating that "the production capacity in the panel factory has been increased, as the daily production was previously 5,000 panels."
He continued, saying: "Today, production has increased to 25,000 paintings per day, with a total production of 5 million paintings, of which one million are in storage."
Samir pointed out that "in 2025, more than one million license plates were produced, and the import of vehicles, which was previously managed haphazardly by companies, was organized."
Regarding the imposition of violations, Samir confirmed that "currently, violations are imposed on vehicles, but in the future, violations will be on the driver's license, as a system of driver violation will be adopted, and points will be deducted from the driver's balance, and the matter may reach the point of withdrawing the license and preventing him from driving the vehicle."
He pointed out that "the number of vehicles registered since 2003 has reached more than 8 million vehicles, while the number of vehicles registered since 2010 within the national project has reached more than 4 million vehicles, in addition to more than 600,000 wheels."
For his part, the Director of Media at the Ministry of Interior, Brigadier General Miqdad Miri, said during the same conference that “things are proceeding very smoothly, and we have not recorded any violations regarding the Rajab visit. The security and traffic plan is well-prepared, and tomorrow, Wednesday, will be of the utmost necessity.” He explained that “the plan is flexible and did not include any road closures, except for some limited closures in the Kadhimiyah and Adhamiyah areas, and the city of Kadhimiyah has been declared a weapons-free zone.”
He added that "some markets witnessed abnormal movements in the dollar exchange rate, as we observed attempts by some people to manipulate the currency and prices," noting that "91 people involved in currency manipulation, 113 people manipulating the prices of basic commodities, and 34 accused of manipulating medicines were arrested, and a pledge was taken from 1,300 people, including pharmacy and store owners, as the campaign continues to apprehend violators."
He stressed that "fines are imposed on violators, and the movement of life is proceeding in an organized and ideal manner. The fines have recently included many details, and have been linked to updates on the Ain Iraq application."
Regarding vehicle traffic and traffic accidents, Miri pointed out that “in 2025, the General Traffic Directorate issued 14 statements focusing on regulating vehicle traffic, with a focus on points where accidents occur. The directorate was also supplied with modern patrols with 818 Toyota Cruise vehicles and 473 other vehicles, to be used in the outer sections, bringing the total number of vehicles in these sections to 1,354 vehicles.”
He continued: “The directorate was also supplied with 20 mobile vehicles for distributing traffic signs, and traffic barriers were created on the external roads. Additionally, a contract was signed for 100 fixed and mobile radars to monitor the external roads from Basra to Nineveh.”
Miri confirmed that "the cameras and radars have been started operating in Baghdad, distributed across 109 intersections and highways, which will contribute to reducing traffic accidents, and the first phase, which includes 40 intersections, will be completed."
Miri pointed out that "877 affiliates were appointed on a contractual basis, and this number had a clear and positive impact on the street and traffic."
He stressed that “all the procedures and points mentioned contributed to the decrease in the accident rate in 2025, as the accident rate in Iraq decreased compared to 2024 to 5.9, which is a rate that is considered better than other countries.” LINK
Dollar opens lower in Baghdad, Erbil markets
2026-01-13 02:48 Shafaq News– Baghdad/ Erbil The US dollar opened Tuesday’s trading at a lower rate in Baghdad and Erbil markets, according to a Shafaq News market survey.
In Baghdad, the dollar opened at 146,400 Iraqi dinars per 100 dollars, down by 400 dinars from the previous session, when it closed at 146,800 dinars per 100 dollars at the Al-Kifah and Al-Harithiya exchanges.
Local exchange shops in the capital sold the dollar at 147,000 dinars per 100 dollars, while buying prices stood at 146,000 dinars.
In Erbil, the dollar edged lower at the opening of trading, with selling prices reaching 145,950 dinars per 100 dollars and buying prices at 145,850 dinars. https://www.shafaq.com/en/Economy/Dollar-opens-lower-in-Baghdad-Erbil-markets
Gold prices slide in Baghdad, Erbil markets
2026-01-13 04:00 Shafaq News– Baghdad/ Erbil On Tuesday, gold prices edged lower in Baghdad and Erbil markets, according to a survey by Shafaq News Agency.
Gold prices on Baghdad's Al-Nahr Street recorded a selling price of 940,000 IQD per mithqal (equivalent to five grams) for 21-carat gold, including Gulf, Turkish, and European varieties, with a buying price of 936,000 IQD. The same gold had sold for 943,000 dinars on Monday.
The selling price for 21-carat Iraqi gold was 911,000 IQD, with a buying price of 907,000 IQD.
In jewelry stores, the selling price per mithqal of 21-carat Gulf gold ranged between 940,000 and 950,000 IQD, while Iraqi gold sold for between 910,000 and 920,000 IQD.
In Erbil, 22-carat gold was sold at 987,000 IQD per mithqal, 21-carat gold at 941,000 IQD, and 18-carat gold at 807,000 IQD. https://www.shafaq.com/en/Economy/Gold-prices-slide-in-Baghdad-Erbil-markets-1
Iraq Ranks Third Among US Oil Suppliers In December At 7M+ Barrels
2026-01-13 06:21 Shafaq News– Baghdad/ Washington Iraq, OPEC’s second-largest oil producer, exported 7.533 million barrels of crude oil to the United States in December 2025, according to data released Tuesday by the US Energy Information Administration (EIA).
During the month, Iraqi crude shipments averaged 306,000 barrels per day (bpd) in the first week, 181,000 bpd in the second, 357,000 bpd in the third, and 129,000 bpd in the fourth week. The figures showed a decline from November, when exports totaled more than 7.9 million barrels.
Iraq, EIA affirmed, ranked third among oil suppliers to the US during December, behind Canada and Saudi Arabia.
Among Arab exporters, Iraq placed second, after Saudi Arabia, which shipped 9.796 million barrels, while Libya came third with 2.139 million barrels. https://www.shafaq.com/en/Economy/Iraq-ranks-third-among-US-oil-suppliers-in-December-at-7M-barrels
Finance Ministry: Iraq Achieved The Second Highest Level Of Improvement Globally In International Governance Indicators.
Money and Business Economy News – Baghdad The Ministry of Finance announced on Tuesday that Iraq has achieved the second highest level of improvement globally in international governance indicators.
The ministry said in a statement received by “Al-Eqtisad News”, that “Iraq has achieved a new international accomplishment within the World Governance Indicators (WGI) report issued in December 2024, according to Fitch and Standard & Poor’s agencies, as Iraq recorded the second highest improvement score globally on an annual basis, reflecting the success of the reform steps adopted by the government in state institutions.”
She noted that “official data from global indicators revealed a tangible improvement in Iraq’s global governance scores, rising from 29.5 points in 2023 to 32.5 points in 2024. This increase represents a positive indicator of the effectiveness of the financial and administrative policies adopted to enhance transparency and efficiency.”
She explained that "according to the report, the largest annual gains were concentrated in three vital sectors, namely: Government efficiency: which recorded an increase of (+4.6 points), Anti-corruption: which made progress of (+4.3 points), Regulatory quality: which increased by (+4.0 points)."
She explained that “progress was not limited to administrative aspects only, but governance indicators pointed to a remarkable and comprehensive improvement in several key areas, which enhances the confidence of the international community, donors and investors in the Iraqi environment, namely: freedom of expression and accountability, political stability and absence of violence, efficiency of government performance, in addition to organizational quality, the rule of law and combating corruption.”
The report indicated that "this remarkable progress came as a result of the commitment to the economic reform program, working to automate financial procedures and strengthen the principles of e-governance, as well as continuing efforts to maintain this positive outcome in a way that serves the supreme national interest and enhances Iraq's position in international indicators." https://economy-news.net/content.php?id=64508