The World Bank Expects Iraq To Lead Arab Countries In Economic Growth By 2026
Political | 07/10/2025 Mawazine News – Baghdad – The World Bank forecast on Tuesday that the Iraqi economy will record the highest growth rate among Arab countries in 2026, reaching 6.7%, ranking first in the Arab world in the list of expected economic performance growth next year.
This high growth reflects a clear improvement compared to the June 2025 forecast, supported by the recovery of the energy sector and the rise in oil exports, in addition to the government’s efforts to enhance investment in infrastructure and diversify sources of income.
This expected performance is a positive indicator of the recovery of the Iraqi economy and the restoration of its activity, in light of global and regional economic challenges.
Djibouti came in second place with an expected growth rate of 6.1%, followed by Qatar at 5.3%, then Palestine at 5.1%, while the UAE recorded growth at 5%.
Saudi Arabia’s growth forecast reached 4.3%, followed by Egypt and Morocco with rates close to 4.2%, while growth rates in Lebanon, Oman, and Libya ranged between 3.5% and 3.6%.
Algeria, Bahrain, and Kuwait recorded moderate rates ranging between 2.5 and 3.1%, while Jordan and Tunisia recorded rates below 2.7%, and Yemen remained unchanged at 2.5%. https://www.mawazin.net/Details.aspx?jimare=267977
The Dollar Exchange Rate Stabilizes. The Note Is Worth 142,500 Iraqi Dinars.
Economy | 07/10/2025 Mawazine News – Baghdad – The dollar exchange rate witnessed remarkable stability against the Iraqi dinar in local markets on Tuesday. The prices were as follows:
Selling prices: 142.500 dinars per $100. Buying prices: 140.500 dinars per $100.
https://www.mawazin.net/Details.aspx?jimare=267964
Oil Prices Continue To Rise After OPEC+ Production Increases
Economy | 07/10/2025 Mawazine News – Follow-up: Oil prices rebounded on Tuesday, thanks to a smaller-than-expected increase in OPEC+ production, which helped ease concerns about a supply glut.
Brent crude futures rose 23 cents, or 0.35%, to $65.70 a barrel by 03:56 GMT. U.S. West Texas Intermediate (WTI) crude rose 21 cents, or 0.34%, to $61.90 a barrel.
Both contracts settled more than 1% higher in the previous session after OPEC+, which includes the Organization of the Petroleum Exporting Countries (OPEC), Russia, and some smaller producers, decided to increase its oil production by 137,000 barrels per day starting in November, according to Reuters.
Analysts at ING said the move contradicts market expectations for a stronger return to supply and is a sign that the group remains cautious about increasing its production share in the global oil market amid expectations of a supply surplus in the fourth quarter and next year.
The group raised its oil production target by more than 2.7 million barrels per day this year, equivalent to about 2.5% of global demand.
Geopolitical factors supported prices, as the conflict between Russia and Ukraine impacted energy assets and fueled uncertainty about Russian crude supplies.
Two industry sources said on Monday that Russia’s Kirishi oil refinery shut down its most productive distillation unit after a drone attack that caused a fire on October 4, and that repairs were likely to take about a month.
However, analysts said oil prices came under pressure as investors see the potential for a supply surplus amid increased supplies from OPEC+ and non-OPEC producers. Furthermore, any slowdown in demand due to weak economic growth caused by US tariffs is likely to exacerbate the surplus. https://www.mawazin.net/Details.aspx?jimare=267957
Yellow Metal Prices Reach An All-Time High
Economy | 09:09 – 07/10/2025 Mawazine News – Follow-up Gold hit a record high on Tuesday as political tensions between the two chambers of the US Congress that led to a government shutdown continued, while expectations of a near-certain Federal Reserve interest rate cut this month supported prices.
Spot gold was up 0.1% at $3,965.39 per ounce by 03:08 GMT, after hitting an all-time high of $3,977.19 earlier in the session. US gold futures for December delivery also rose 0.3% to $3,988.10.
Markets continue to price in an additional 25 basis point rate cuts in both October and December, with 95% and 83% odds, respectively, according to the CME FedWatch tool.
Gold thrives in a low interest rate environment and during economic uncertainty.
Gold has risen 51% so far this year, driven by strong central bank buying, increased demand for gold-backed exchange-traded funds (ETFs), a weaker dollar, and increased interest from individual investors seeking to hedge amid escalating trade and geopolitical tensions.
Among other precious metals, spot silver fell 0.1% to $48.49 an ounce, platinum fell 0.4% to $1,619.62, and palladium rose 0.1% to $1,325.71. https://www.mawazin.net/Details.aspx?jimare=267955
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com
