From The Central Bank: Initial Indications Of An Impending Economic Recession In Iraq
Baghdad Today – Baghdad Economic expert Manar Al-Obaidi revealed on Thursday (June 26, 2025) that the Central Bank of Iraq recorded a 4% decline in total US dollar sales during the first five months of 2025, compared to the same period in 2024. He warned that this decline could be an early indicator that the Iraqi market is entering a recession.
Al-Obaidi said, in a clarification followed by “Baghdad Today,” that “the Central Bank’s total dollar sales amounted to $31.5 billion during the first five months of 2025, a decrease of approximately $1.3 billion compared to sales during the same period in 2024, which amounted to $32.9 billion.”
He pointed out that “the decline was primarily concentrated in cash dollar sales, which fell by 17%,
reaching only $1.3 billion compared to $1.55 billion last year, while dollar sales via the “Currency Balances Enhancement” mechanism saw a 38% increase, reaching $30.2 billion, compared to $21.9 billion in the corresponding period.”
Al-Abidi added, “The direct foreign transfer mechanism, previously used under what is incorrectly known as the ‘auction,’ has completely halted this year, after recording $9.4 billion in the same period in 2024.”
He explained that “dollar sales used to settle international payments via electronic cards declined from $1 billion in January to just $261 million in May, due to restrictions imposed by the Central Bank and the inability of some banks to complete settlements.”
Al-Obaidi emphasized that “this decline in sales, despite the decline in the exchange rate on the parallel market, reflects a decline in commercial demand and economic activity, which increases the likelihood of an economic recession, especially with inflation rates falling to 1.1% in April 2025, the lowest level in years.” https://baghdadtoday.news/277366-.html
The Central Bank Concludes A Course On Basic Standards For Detecting Counterfeit Currency.
June 29, 2025 The Central Bank of Iraq’s Basra branch concluded the “Basic Standards for Detecting Counterfeit Currency” course. The course, organized by the Central Bank’s Banking Studies Center, lasted three days, from June 23-25, 2025.
The course was attended by 13 government and private banks from the southern governorates.
It also covered key aspects related to recent developments in detecting counterfeit currency and its basic standards.
For their part, the participants praised the training courses organized by the Central Bank of Iraq for their significant impact on developing their job performance. Central Bank of Iraq Media Office June 29, 2025 https://cbi.iq/news/view/2921
Iraq Seeks To Reduce Gas Flaring To Zero.
Energy The Ministry of Oil announced on Wednesday the government’s efforts to
increase associated gas investment rates and
reduce flaring rates,
achieving zero flaring, while also
increasing liquefied natural gas production and exports to
generate additional revenue for the state treasury.
“The government and the ministry are keen to
increase the investment rates of associated gas from oil fields and work to
reduce gas flaring to low levels, leading to
zero flaring in the next few years,
in addition to
increasing the production and export rates of liquefied gas to
generate additional revenues for the state treasury,” said Ezzat Saber Ismail, Undersecretary of the Ministry of Gas Affairs, during a leadership meeting for the gas sector, attended by heads of relevant companies and departments at the ministry’s headquarters.
He added, “The gas investment sector has achieved advanced levels of production, as national companies have been able to raise gas investment quantities to 71%, through the implementation of a number of projects that aim to achieve the Ministry’s plans in this regard.”
He pointed to “the interest the gas sector receives from Prime Minister Mohammed Shia al-Sudani and Oil Minister Hayan Abdul-Ghani al-Sawad,” expressing his hope that
“the ministry will achieve its goals through projects implemented by national companies in cooperation with specialized international companies, particularly in the Maysan, Buzurgan, Gharraf, and Nasiriyah fields in Dhi Qar, Artawi, Nahr Bin Omar, and the integrated gas project with Total in Basra, in addition to the projects of the fifth licensing rounds.”
The Undersecretary of the Ministry stressed the
“need to enhance liquefied natural gas storage capacity by
accelerating the implementation of ongoing and planned projects in a number of governorates,
in order to strengthen the integrated infrastructure of this sector,
which has witnessed significant achievements in projects to
increase production, storage, export capacities, and distribution outlets.” He explained that
“the Ministry has recently succeeded in implementing a number of gas pipeline projects to power plants, which aim to achieve high flow rates in the transport and pumping of gas.”
The statement added, “The meeting included a review of the
projects being implemented within the ministry’s programs and plans, the
percentages of completion achieved, dry and liquid gas production rates,
storage energy projects, the pipeline network, and
gas transportation to power plants, in addition to the topics included on the agenda.”
views 143 Added 06/25/2025 – https://economy-news.net/content.php?id=56606
The Dollar Continues To Decline In Baghdad Markets.
Economy | 11:54 – 06/29/2025 Mawazine News – Baghdad – The US dollar exchange rate witnessed a slight decline in Baghdad’s local markets on Sunday.
The dollar price fell on the Al-Kifah and Al-Harithiya stock exchanges to 141,250 Iraqi dinars for every $100, while yesterday, Saturday, it recorded 141,300 dinars for every $100.
The selling prices in the exchange sector in Baghdad’s local markets also recorded stability, as the selling price reached 141,300 Iraqi dinars for every $100, and the buying price reached 140,800 dinars for every $100. https://www.mawazin.net/Details.aspx?jimare=263230
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