Iraq Economic News and Points To Ponder Tuesday Morning 9-15-26
2027 Budget Heads To Iraqi Parliament October 15
2026-09-14 / 05:58 Shafaq News- Baghdad Iraq’s Finance Ministry plans to submit the 2027 federal budget bill to Parliament on October 15, Parliamentary Finance Committee member Jamal Kocher told Shafaq News on Monday, after two years without an enforceable federal budget.
Kocher said Finance Minister Faleh Sari informed the committee of the submission date, in line with deadlines set under the country’s financial management law.
Iraq enacted a three-year budget law covering 2023-2025 under former Prime Minister Mohammed Shia Al-Sudani, but Parliament did not approve the 2025 spending schedules before the fiscal year ended, preventing that year’s budget from being implemented. No federal budget law was passed for 2026.
Read more: Iraq moves to results-based budgeting in 2027
https://www.shafaq.com/en/Economy/2027-budget-heads-to-Iraqi-Parliament-Oct-15
PM Adviser: Iraq’s Banks Can Meet Depositor Obligations
2026-09-14 10:00 Shafaq News- Baghdad Current indicators show no cause for concern over the Iraqi banking sector’s ability to meet its obligations to depositors, the Prime Minister’s Financial and Economic Adviser told Shafaq News on Monday.
Mudher Mohammed Saleh said regulators continuously monitor liquidity, solvency, capital adequacy and asset quality, as well as credit and market risks and asset-liability management. Saleh also urged citizens to rely on official information rather than rumors.
Asked about potential risks to Iraqis’ deposits or restrictions on withdrawals, he said protecting deposits and maintaining banking-system stability were regulatory priorities, adding that banks must maintain sufficient liquid assets to meet short-term obligations, withdrawals and transfers.
“Protecting depositors’ funds and maintaining confidence in the banking system are also essential to monetary and financial stability,” Saleh said.
Shafaq News contacted the Central Bank of Iraq seeking answers to several questions, but most officials declined to comment.
Read more: Banking without trust: Why Iraqis still keep their money in cash
Varying Risks
The absence of official restrictions on withdrawals does not necessarily mean all Iraqi banks enjoy the same level of stability, economic researcher Ahmed Eid told Shafaq News. Some banks facing financial difficulties or regulatory measures could experience temporary problems meeting withdrawal requests, he stated, but that does not mean the situation applies to the sector as a whole.
Eid attributed weak liquidity in Iraq’s banking system partly to citizens keeping large amounts of cash outside banks because of low confidence.
Read more: Cash culture dominates Iraq, reform efforts stall
Reforms and Depositor Protection
Economist Ahmed Abdul-Rabbo said regulatory measures against banks should not be equated with insolvency, saying they were part of a broader reform program assessing banks against governance, compliance, risk-management and transparency standards, with banks potentially remaining independent, merging or exiting the market.
Abdul-Rabbo also cautioned against automatically linking the reform program to speculation about general withrawal restrictions.
Read more: Banking sector faces turning point in Iraq’s reform drive
https://www.shafaq.com/en/Economy/PM-Adviser-Iraq-s-banks-can-meet-depositor-obligations
Dollar Rises In Baghdad, Erbil Markets
2026-09-14 10:24 Shafaq News- Baghdad/ Erbil The US dollar closed Monday’s trading higher in Iraq, hovering around 157,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 156,650 dinars per 100 dollars, up from the morning session’s 156,500 dinars.
In the Iraqi capital, exchange shops sold the dollar at 157,000 dinars and bought it at 156,000 dinars, while in Erbil, selling prices stood at 156,400 dinars and buying prices at 156,300 dinars.
https://www.shafaq.com/en/Economy/US-dollar-prices-increase-in-Baghdad-Erbil
Basrah Crudes Slip Despite Benchmark Gains
2026-09-15 02:31 Shafaq News- Basrah Iraq’s Basrah crude declined more than 0.5% on Tuesday, amid gains in benchmark crude futures.
Basrah Heavy crude fell by 53 cents, or 0.55%, to $95.58 per barrel, while Basrah Medium crude slipped by 53 cents, or 0.53%, to settle at $98.88 per barrel.
Brent crude futures rose by $1.37, or 1.3%, to $107.05 per barrel, while US West Texas Intermediate futures gained $1.53, or 1.51%, to $102.92 per barrel.
https://www.shafaq.com/en/Economy/Basrah-crudes-slip-despite-benchmark-gains
Gold Holds Steady Ahead Of Fed Decision
2026-09-15 03:15 Shafaq News Gold held steady on Tuesday after touching a more than one-month low in the previous session, as investors geared up for the U.S. Federal Reserve's policy decision for clues on the future path of monetary policy.
Spot gold was little changed at $4,302.13 per ounce, as of 0510 GMT, after hitting its lowest point since August 7 on Monday.
U.S. gold futures were down 0.2% at $4,341.70.
The U.S. central bank will announce its policy decision at 1800 GMT on Wednesday following the end of a two-day meeting. Financial markets are betting heavily that Fed policymakers will lift their benchmark rate a quarter of a percentage point to a 3.75%-4.00% range.
"How Fed Chair Kevin Warsh frames that hike will matter more than the hike itself for gold... If he casts it as the start of a meeting-by-meeting tightening cycle, that would be a hit to gold and to risk assets overall," IG market analyst Tony Sycamore said.
"If instead he signals a preference for a more measured pace, that would prove somewhat supportive for risk sentiment and for gold."
Though seen as a hedge against inflation and geopolitical risks, gold often loses appeal when rates increase as they raise the opportunity cost of holding non-yielding bullion.
Data on Friday showed U.S. consumer prices accelerated in August, while a key measure of underlying inflation posted its largest increase in four months.
On the geopolitical front, Yemen's Iran-aligned Houthis launched a fresh wave of attacks on Saudi Arabia and were digging into positions on the western coast of Yemen along the Red Sea. Oil prices rose on concerns over supply disruptions.
Meanwhile, U.S. 10-year Treasury yields hit 5% on Monday for the first time since October 2023. The milestone is a threshold that analysts say could ripple through the U.S. economy and threaten the bull market in stocks by denting the relative appeal of U.S. equities.
Spot silver steadied at $63.25, platinum gained 0.7% at $1,770.81 and palladium fell 0.4% to $1,288.25. (REUTERS)
https://www.shafaq.com/en/Economy/Gold-holds-steady-ahead-of-Fed-decision
Dollar Rises In Baghdad, Erbil Markets
2026-09-15 03:57 Shafaq News- Baghdad/ Erbil The US dollar opened Tuesday’s trading higher in Iraq, hovering around 157,000 dinars per 100 dollars.
According to a Shafaq News market survey, the dollar traded in Baghdad's Al-Kifah and Al-Harithiya exchanges at 156,600 dinars per 100 dollars, up from the previous session’s 156,500 dinars.
In the Iraqi capital, exchange shops sold the dollar at 157,000 dinars and bought it at 156,000 dinars, while in Erbil, selling prices stood at 156,350 dinars and buying prices at 156,250 dinars.
https://www.shafaq.com/en/Economy/Dollar-rises-in-Baghdad-Erbil-markets-6-0