Iraq Is Among The Top Destinations For Turkish Exports, With Strong Growth Last Month.
Money and Business Economy News – Baghdad Iraq was among the key markets that supported the growth of Turkish exports during April 2026, at a time when the Mediterranean Exporters Associations in Turkey announced strong results in a number of regional and international markets.
The head of the associations, Faisal Mameesh, said in a statement followed by “Al-Eqtisad News”, that the value of their exports reached $1.65 billion during last April, an increase of 27% compared to the same period last year.
He noted that export performance witnessed clear momentum in the Italian and German markets, while strong growth was also observed in the Iraqi markets, in addition to the Romanian, Spanish and Egyptian markets.
Mameesh explained that this increase was driven by increased exports of iron, minerals, chemicals, fruits, vegetables, grains, legumes and oilseeds, which are commodities that are in growing demand in the Iraqi market.
The inclusion of Iraq among the fastest growing markets reflects the continued expansion of trade between Baghdad and Ankara, especially given the Iraqi market’s reliance on foreign imports to secure some food, construction materials, and industrial goods.
Turkish associations also expect this export momentum to continue in the coming months, aiming to achieve annual growth exceeding 10% by the end of the year. https://www.economy-news.net/content.php?id=68790
Globally, The Dollar Is Rising Amid Escalating Tensions Between The United States And Iran.
Money and Business Economy News – Follow-up The dollar began Asian trading on Friday higher against most major currencies after renewed hostilities between the United States and Iran, while the Japanese yen remained largely stable following fresh hints from authorities in Tokyo.
The United States and Iran traded fire and sharp criticism again on Thursday, adding to the strain on the fragile month-long ceasefire, as Iran considers a proposal from Washington to end the war.
Oil prices jumped and US crude oil futures rose 3% in early trading, increasing the risk aversion in currency markets.
The dollar index, which measures the strength of the US currency against other major currencies, rose slightly to 98.235.
The escalating tensions pushed the dollar higher for the second consecutive day, rebounding from its lowest level in over two months earlier in the week amid hopes for a peace agreement. The dollar is now on track to end the week virtually unchanged.
In Numbers: Iraqi Debts Up To April 2026
Money and Business Economy News – Baghdad Recent official data issued by the Ministry of Finance shows the financial position of Iraqi internal and external debts up to the end of April 2026.
The figures showed a disparity in the size of borrowing and the ability to repay between inherited obligations and those created during the current government’s term.
Details Of Internal Debt
These data were included in a report by the Public Debt Department of the Ministry of Finance, which indicated with updated figures that the total domestic borrowing that took place during the period from 2023 until April 30, 2026 amounted to 46.035 trillion dinars.
These loans were distributed as follows: 7.590 trillion in 2023, rising to its peak in 2024 with an amount of 17.105 trillion dinars, then settling at 10.840 trillion in 2025 and 10.5 trillion in the first months of 2026.
Despite the size of the new borrowing, the Ministry of Finance, according to the Ministry of Finance data, succeeded in paying off an amount of 19.910 trillion dinars, so that the total internal debt balance stabilized at 96 trillion and 629 dinars, while the internal debt balance due to the accumulated borrowing from previous governments (2004 – 2022) had recorded 70.505 trillion dinars.
External Debt
Regarding the external debt file, the data showed tangible progress in reducing financial burdens, as the current external debt balance reached $10.076 billion, and the Ministry of Finance was able, between 2023 and April 2026, to repay $2.166 billion of loans inherited from previous governments.
Regarding “old debt” from before 2003 (Paris Club countries and non-Paris Club countries), the Ministry of Finance report revealed that the outstanding balance as of the end of April 2026 had decreased to only $2.963 billion. In comparison, the outstanding balance of external project debt for the period 2016-2022 had previously reached $12.926 billion .https://www.economy-news.net/content.php?id=68802
World Cup Tickets Spark Controversy… “Worst Seat” In The 2026 World Cup Final Costs $11 Million!
Money and Business Economy News – Follow-up The prices of tickets for the 2026 World Cup have sparked widespread anger among football fans, after the prices of some seats, even in the regular categories, reached astronomical figures months before the start of the tournament.
With the opening of ticket sales, fans were surprised by a huge increase in prices, especially for the final match scheduled for July 19 at MetLife Stadium in New Jersey, USA.
FIFA had previously announced that the maximum price for a ticket to the final was around $1,550, but the official sales platform later showed tickets offered for more than $10,000, while some tickets offered for resale reached shocking figures exceeding $11 million, even though the seat included in them is among the worst in terms of visibility inside the stadium.
One ticket that circulated sparked considerable controversy after it was offered for £8.5 million for a seat in the upper rows of the stadium, which fans considered evidence that the tournament had become an event reserved for the wealthy only.
Many fans expressed their anger over the prices on social media, with some describing what was happening as “financial exploitation,” while others considered that “football is no longer the fans’ game.”
Travel and transportation costs also saw a significant increase, with the price of a train journey of no more than 30 minutes from New York to MetLife Stadium rising from less than $10 to about $150 during the tournament matches.
For his part, FIFA President Gianni Infantino defended the prices, stressing that the exorbitant figures offered in the resale market do not reflect the true value of the tickets, adding that the international federation deals with the “market reality” in the United States as one of the largest entertainment markets in the world.
In contrast, fan groups criticized the tournament’s pricing policy, arguing that fans coming from all over the world felt “unwelcome,” especially given the significant increase in the costs of tickets, transportation, accommodation, and services associated with the World Cup. https://www.economy-news.net/content.php?id=68800
How Can Iraq Secure Its Financial Needs Without Selling Oil?
Karim Al-Araji, Expert And Consultant In International Economics – After Saudi Arabia, the UAE, and Kuwait, Iraq is the fourth largest holder of US Treasury bonds in West Asia. The value of these bonds purchased by Iraq reached approximately $42 billion by the end of 2025.
This figure was $23.4 billion at the beginning of that year, representing a 79% increase in just one year. One of the main reasons for Iraq’s purchase of this quantity of US Treasury bonds is that Iraqi oil revenues are subject to the control of the US Federal Reserve, in accordance with UN Security Council Resolution 1483.
According to paragraph 20 of this resolution, Iraqi oil export revenues are to be transferred to a fund called the Development Fund for Iraq. Later, by order of Paul Bremer, the US administrator of the Coalition Provisional Authority in 2003, this account was opened at the Federal Reserve. Thus, Iraq’s sources of income have been under US control ever since.
Given that oil revenues constitute more than 90% of Iraq’s federal budget, preventing Iraq from freely accessing its oil revenues by the United States leads to reduced capabilities and constraints on securing the necessary financing for trade with other countries, developing oil and petrochemical infrastructure and power plants, creating jobs, and providing services appropriately.
With the closure of the Strait of Hormuz, the halt in exports, and the decline in oil revenues, this is an opportune time to secure the country’s financial needs by selling this quantity of bonds.
Therefore, it is also essential to completely cease purchasing these bonds and redirect this valuable asset towards the country’s progress and meeting the financial needs of the Iraqi people. https://www.economy-news.net/content.php?id=68672
