The Central Bank Of Iraq Reveals Dollar Sales Figures For The First Nine Months Of This Year.
Banks Economy News – Baghdad The Central Bank of Iraq revealed on Tuesday that its sales of hard currency amounted to more than $60 billion during the first nine months of this year. The bank said in a statistic that “the bank’s sales of hard currency during the first nine months of 2025 amounted to $60 billion and 781 million.”
He added that “sales were distributed between foreign remittances amounting to 58 billion and 684 million, and also to cash sales amounting to 2 billion and 97 million dollars.”
The bank’s statistics indicated that “these sales, during the first nine months of this year, increased by 11.61% compared to the same period last year, which amounted to $54 billion and 458 million.” https://economy-news.net/content.php?id=62197
Significant Gains: An Economic Decision In Iraq That Will Save $5 Billion Annually.
energy Economy News – Baghdad The advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, confirmed that stopping the import of oil products will save $5 billion annually, and is also a step that paves the way for exports after the completion of the operation of modern refineries in Iraq.
Saleh said that “the Iraqi government’s announcement of halting the import of oil products is a qualitative and strong turning point in the path of diversifying the national economy, as it represents the real beginning of diversifying the oil sector itself.”
He continued: “The Iraqi economy, which has long been characterized by its rentier nature and its heavy reliance on crude oil exports, is today witnessing a fundamental transformation in its production structure, paving the way for a new phase of industrial transformation in energy and strengthening economic sovereignty,” according to the Iraqi News Agency (INA).
Saleh added that “the decision achieves significant savings in foreign currency for the benefit of the Iraqi economy by reducing the annual import of oil derivatives, which is estimated at about $5 billion annually on average and includes vital products such as gasoline, gas oil, and others. These savings are reflected positively on the current account balance of the Iraqi balance of payments, which enhances the country’s ability to manage its foreign exchange reserves more sustainably.”
He explained that “the decision also contributes to boosting the gross domestic product by about 3% annually, as a result of the increased added value resulting from the local production of those oil derivatives instead of importing them.”
He said that Iraqi oil policy in the next phase seeks to gradually export oil derivatives after completing the construction of modern refinery chains, adopting advanced technology and making extensive investments in the crude oil refining sector. https://economy-news.net/content.php?id=62190
Oil Prices Fell Due To Concerns About Oversupply.
economy | 10:47 – 11/11/2025 Mawazin News – Follow-up: Oil prices fell in early Asian trading on Tuesday, paring gains from the previous session, as concerns about oversupply outweighed optimism about a potential resolution to the US government shutdown.
Brent crude futures fell 13 cents, or 0.2 percent, to $63.93 a barrel, while US West Texas Intermediate crude futures settled at $60 a barrel, down 13 cents, or 0.2 percent. Both benchmarks had risen by about 40 cents in the previous session. https://www.mawazin.net/Details.aspx?jimare=270125
Pavel Talabani: We Congratulate The Iraqi People On The Success Of The Elections And Call For A New Phase Between Kurdistan And Baghdad
Baratha News Agency1322025-11-11 On Tuesday (November 11, 2025), the President of the Patriotic Union of Kurdistan, Bafel Jalal Talabani, congratulated the citizens of the Kurdistan Region and Iraq on the conclusion of the general voting process for the parliamentary elections, praising the participation of voters and the role of the organizing and security authorities in ensuring the success of the electoral process.
Talabani said in a statement, “I extend my warmest congratulations and blessings to the citizens of Kurdistan and Iraq, and I thank them for their participation in the electoral process,” adding, “I also extend my thanks to the Independent High Electoral Commission and all the security forces who performed their duties to the fullest and contributed to the success of the process.”
Talabani called on “all deputies who have gained the trust of the voters to defend the rights of citizens in all regions, and to work with national responsibility in order to promote justice and equality in the management of the country’s affairs.”
The head of the Patriotic Union of Kurdistan (PUK) indicated that “the next stage should be the beginning of a new era of relations between the Kurdistan Region and Baghdad,” stressing the need to “find radical solutions to the existing problems based on the constitution and the principle of genuine partnership.”
Talabani’s statement came hours after the closing of polling stations across Iraq’s provinces at 6 p.m. today, amid tight security measures and field monitoring by the Independent High Electoral Commission. https://burathanews.com/arabic/news/467597
