Iraqi News

Thursday Morning Iraq Economic News Highlights 3-2-23

Obelisk Clock: The Kurdistan Democratic Party Denies Pavel’s Statements About Smuggling Dollars Through Dirt Roads

March 2, 2023   Baghdad / The Obelisk: The Obelisk publishes the most prominent interactions of the TV dialogues on Wednesday.  Head of the Parliamentary Services and Reconstruction Committee, Ali Al-Hamidawi, during a televised interview:

– The reality of services in the country is not good, and we were aspiring for the best

– There is real seriousness on the part of the Sudanese government to develop the reality of services

– We must pay attention to lagging projects in the governorates so as not to disappear

– 3 trillion dinars share the capital Baghdad during the next budget

– The government should go towards important strategic projects

– Institutions The service works by implementing small projects to achieve corruption

– we are facing investment chaos and randomness in the investment sector

– there must be a real investment plan in Baghdad

Member of the Kurdistan Democratic Party, Ali Al-Faili, during a televised interview:

– Pavel Talabani’s recent statements are not new

– we have timetables to zero in on all problems between the center and the region

– there are marathon negotiations to resolve many outstanding issues between the center and the region

– dollar smuggling through Turabi passes through Kirkuk and Sulaymaniyah according to Pavel Talabani’s statements is not true

– there are individual smuggling operations Dollars exist and do not deny it

MP of the Sadiqoon Bloc, Ahmed Al-Musawi, during a televised interview:

– Iraq cannot be an axis against another

– Iraq is not about to please the Americans or take into account their annoyance

– America wants to subjugate the countries of the region to its policy and interests

– The resistance factions played a positive role in Iraq

– The resistance factions monitor government performance to rid the Iraqis of America’s hegemony

– The interventions of the American ambassador In Iraq, they are brazen

– the resistance factions gave the government an opportunity to end the foreign military presence

– political stability must be invested in building the state

– the international balance represents a factor of strength for Iraq

– the 2019 crisis with the overthrow of Abdul Mahdi’s government cannot be returned now

– the Al-Kazemi government is “distorted” and worked to bring down the system Moral

– the Iraqi people cannot submit to the will of any state

Planning Reveals An Aspect Of The Current Year’s Budget.. This Is What It Includes

[ltr]2023.03.02 – Baghdad – Nas  The Ministry of Planning announced, on Thursday, that the budget for the current year includes two types of service projects, while counting the number of lagging projects.

“Nass” channel on Telegram.. our latest updates : “The general budget for the year 2023 will be better than its predecessors, and this will reflect positively on the nature of projects in Iraq,” the ministry’s spokesman, Abdul-Zahra al-Hindawi, said in a statement to the official agency, followed by “NAS” (March 2, 2023).

Al-Hindawi added, “The ministry has two types of projects: the first is ongoing projects under implementation, and others that are lagging, amounting to 1,400 projects,” indicating that “priority will be for ongoing projects, with the resumption of work on lagging projects after addressing the reasons for delay or stopping with the inclusion of new projects with A development priority according to the capabilities of the executive authorities in performing their financial obligations with previous projects.

The spokesman pointed out that “priority will be given to existing projects (under implementation) and service projects according to the priorities of the government program, such as projects (schools, water, sanitation and hospitals).”

Al-Mandalawi: Fighting Corruption Requires An Honest And Developed Banking System That Works In The Interest Of The Country And Its People

Thursday 02 March 2023 11:08 | politics Number of readings: 270  Baghdad / NINA / – Mohsen Al-Mandalawi, First Deputy Speaker of Parliament, stressed: “Fighting corruption requires an honest and developed banking system that works for the benefit of his country and people.” Al-Mandalawi said, during his meeting with the head of the

Iraqi Private Banks Association, Wadih Handal, and a number of members: “The House of Representatives is following up on the bank’s procedures.”

The Central Bank and government decisions seeking to develop and develop the local banking sector, in return, the latter must initiate the development of its tools in order to enhance citizen confidence in it, and strengthen coordination mechanisms to implement the largest possible number of service projects , as well as assigning a package of government reforms in financial and banking affairs and combating dangerous phenomena that threaten security the market and the citizen, especially currency smuggling, currency laundering, counterfeit currency, and others.

The First Deputy called on local banks to take advantage of the Central Bank’s initiative to support small and medium enterprises in various sectors to create job opportunities for young people, increase national income, and reduce dependence on oil as the only source of financing the treasury in order to achieve economic stability, which will be an attractive environment for investors

High dollar prices in Baghdad and Erbil

2023-03-02 Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar rose today, Thursday, in the main stock exchange in the capital, Baghdad, and in the Kurdistan Region.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 156,250 Iraqi dinars for 100 US dollars this morning.

While the prices yesterday morning, Wednesday, were 155,500 dinars, compared to 100 dollars.

Our correspondent indicated that the buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 157,250 Iraqi dinars for every 100 US dollars, while the buying prices reached 155,250 Iraqi dinars for every 100 US dollars.

As for Erbil, the capital of the Kurdistan Region, the dollar prices also recorded an increase, as the selling price of the dollar reached 157,400 dinars per 100 US dollars, and the purchase price reached 156,400 dinars per 100 US dollars.   LINK

The Iraq Stock Exchange Trades More Than Two Billion Shares, With A Value Of More Than 4 Billion Dinars, During The Week

2023-03-02 Shafaq News/ The Iraqi Stock Exchange announced, on Thursday, that more than two billion shares have been traded, with a financial value of more than 4 billion dinars, during the current week that is about to end.

During the last week of February 2023, the Iraq Stock Exchange organized five trading sessions, from Sunday 26/02/2023 to Wednesday 02/03/2023, and the following indicators were achieved during this week:

  1. The number of shares traded during this week amounted to more than (2) billion shares.
  2. The value of shares traded this week amounted to more than (4) billion dinars.
  3. The trading index in the market closed for the first session of the week at (644.26) points, while the index closed at the end of the week at (637.14) points, achieving a decrease of (1.12%) from its closing at the beginning of the session.
  4. During the week, more than (2,600) buying and selling contracts were executed on the shares of the companies listed in the market.  LINK

The Central Obliges International Money Transfer Companies At An Exchange Rate Of 1320 Dinars To The Dollar

Baghdad today – Baghdad The Central Bank of Iraq issued a directive to international money transfer companies to adhere to the exchange rate of 1320 dinars to the dollar.

And a document issued on March 1, which was received b xchange rate of 1320 dinars / dollars for the final beneficiary of incoming and outgoing transfers

Specialists: The Chinese Yuan Will Not Change Anything In The Local Market

Economical  2023/03/02  Yesterday, Wednesday, the exchange rate of the dollar against the dinar rose in the local markets, to exceed the barrier of 1550 per 100 dollars, while specialists believe that the Chinese yuan will not change anything in the Iraqi market, since the dollar prevails.

Iraq continues to enhance the digitization of its financial and banking services, coinciding with the passage of two months since the start of implementing a series of financial reforms, in response to the measures taken by the US Federal Bank to limit dollar smuggling.

The central bank intends to regulate the financing of foreign trade directly from China in the Chinese yuan currency, in a step that is the first of its kind, as part of a package of measures aimed at facilitating access to currencies.


The most prominent of these measures was the imposition of an electronic trading platform for the sale of hard currency in the Central Bank of Iraq, allowing the United States to monitor the movement of money transfers in hard currency (dollars), and banning various companies and banks from dealing with them.

Financial expert Muhammad Al-Sheikhly attributed the continued existence of a difference between the official exchange rate for the dinar offered by the Central Bank at 1310 dinars to the dollar, and the black market trades exceeding 1520 dinars, to the lack of sales of the Central Bank of dollars through the official window, and the continued great demand for it in the market.

For his part, economist Nabil Al-Marsoumi explained that liberating Iraq from the US dollar is impossible, pointing out that the Chinese yuan will not change anything in the market.


Al-Marsoumi said, “Iraq began diversifying its cash reserves five years ago, but the dollar prevails because oil revenues are in dollars and it has only a few Chinese yuan. Today, it is trying to restore the value of the dinar through a strategy that is being followed by other official banks in the Middle East.”

He added, “The strategy includes relying on the Chinese yuan currency for the purpose of trade exchange with China, in addition to the euro, the Emirati dirham and the Jordanian dinar, as the Iraqi authorities seek to provide other foreign currencies for local dealings besides the dollar.”

The Central Bank Announces The Proceeds Of Selling The Dollar Through The Electronic Window

2023.03.01 – 13:23  Baghdad – people    The Central Bank of Iraq announced, on Wednesday, that today’s sales of dollars through the electronic window are 140 million and 390 thousand and 285 in the form of transfers and cash sales.    “Nass” channel on Telegram.. our latest updates

The Central Bank of Iraq’s sales schedule in dollars for today came as follows:

The Central Bank announces the proceeds of selling the dollar through the electronic window Me_ga