Government Advisor: Monetary Policy Has Achieved Stability In The Exchange Rate And Inflation
Money and Business Economy News – Baghdad The Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Friday that Iraq has achieved unprecedented stability in inflation and prices, noting that inflation in the country is under control and unemployment is declining.
Saleh said, “For the first time in Iraq’s modern economic era, high growth is being achieved, characterized by stability in the general price level, with the annual inflation rate remaining within what is known as the natural price range or the natural fraction of inflation in the country.”
He added, “Iraq has entered its third year with low growth rates in annual inflation indicators, measured monthly over a 12-month period. These rates fluctuate below 3%, reflecting the success of economic policies, particularly monetary policy, in achieving their goals toward a stable economy. Controlling inflation is the primary goal for maintaining price stability and the purchasing power of the Iraqi dinar.”
He continued: “This decline in annual inflation was accompanied by a significant decline in annual unemployment rates, which fell from 17% to approximately 14%. Monetary policy also succeeded in maintaining the positive effects of the official exchange rate of 1,320 dinars per dollar and limiting the effects of the parallel exchange market on the stability of the pricing system.”
He pointed out that “the government’s support policy, through supporting the grain-producing agricultural sector, providing food and medicine baskets, fuel and electricity subsidies, in addition to customs and tax exemptions, which represent an estimated 25% of total public spending in the budget, or 13% of the gross domestic product, is one of the fundamental pillars of the fiscal policy that has confronted inflation and contributed to limiting its growth.”
He explained that “trade policy, through price defense, by expanding stores that provide consumer and construction goods at stable cooperative prices, has in turn contributed to supporting price stability and combating inflation, thus enhancing the stability of the Iraqi economy.”
Regarding the downsides of this price stability, he noted that “it has encouraged the export of some food and consumer goods, albeit on a limited scale, across borders, allowing other countries to benefit from the stability of basic prices in Iraq.”
He concluded by saying, “Iraq is witnessing a significant price boom, which is an indicator of the success of economic policy implementation. This is a remarkable development, unprecedented in the past ten years, as this stability is reflected in the country’s cash income.” https://economy-news.net/content.php?id=60962
The US Senate Votes Unanimously To Repeal The Iraq War Authorization.
Buratha News Agency1222025-10-10 The U.S. Senate voted unanimously on Thursday to repeal two authorizations that authorized the first Gulf War in 1991 and the 2003 invasion of Iraq. The vote came after the House of Representatives voted last month to repeal the resolution, returning war powers to Congress.
The Senate passed an amendment to repeal the resolution, introduced by Virginia Democratic Senator Tim Kaine and Indiana Republican Senator Todd Young, as part of the annual defense authorization bill that passed the Senate late Thursday.
“This is how war ends, not with a bang but with a thud,” Kaine said after the vote, which took only seconds with no debate or objections.
“Those wars changed America forever, and they changed the Middle East as well,” he added, according to the Associated Press.
This returns war powers to Congress after two decades of delegating those powers to the White House. Supporters of the resolution in both the House and Senate said that revoking the authorization is a crucial step to prevent future misuse and to affirm that Iraq is now a strategic partner of the United States.
The House of Representatives added a similar amendment to its version of the defense bill last September, meaning the revocation is likely to be included in the final version of the law after the two chambers consolidate the versions.
Both bills also included a revocation of the 1991 authorization that authorized the U.S.-led Gulf War. Will Trump support the resolution? The Associated Press reported that while Congress appears close to passing the revocation resolution, it remains unclear whether President Donald Trump will support it.
During his first term, his administration invoked the 2002 Iraq War authorization resolution as part of the legal justification for the 2020 drone strike that killed then-Iranian Quds Force commander Qassem Soleimani in Baghdad.
However, this authorization has been rarely used since then. Senator Young said after the vote that he believed Trump should feel “very proud” of signing the bill, having campaigned on a pledge to end “forever wars.” He added that it would make him the first president in modern history to legally end a long-running war.
“The vote sets an important precedent, which is that Congress now very clearly declares that it is our authority and responsibility not only to authorize the use of military force, but also to end armed conflicts,” Young said.
The vote, which was added to the broader defense bill, came amid a sharp partisan dispute over the government shutdown. Young added that the quick vote was “an extraordinary moment” that he hoped “shows some that we are still capable of getting critical things done in Congress.”
Two years ago, the Senate voted 66-30 to repeal the 2002 authorization. Although some Republicans privately told Kaine they still opposed the measure, none opposed Thursday night’s unanimous vote.
The 2001 authorization for the global war on terrorism would remain in place under the new bill. While the 1991 and 2002 authorizations were rarely used and focused specifically on Iraq, the 2001 authorization gave President George W. Bush broad authority to launch an invasion of Afghanistan.
Authorizing the use of force against “nations, organizations, or persons” who planned or supported the September 11, 2001, attacks against the United States. Since its adoption in September 2001, this authorization has been used in recent years to justify US military operations against groups such as al-Qaeda and its affiliates, including ISIS, and the Somali al-Shabaab movement. http://burathanews.com/arabic/news/466304
Gold Is Heading For Its Eighth Consecutive Weekly Gain
economy | 09:18 – 10/10/2025 Mawazine News – Follow-up Gold prices rose on Friday, heading for their eighth consecutive weekly gain, benefiting from safe-haven demand amid ongoing geopolitical and economic uncertainty, along with expectations of a Federal Reserve interest rate cut.
Spot gold rose 0.1% to $3,977.87 per ounce by 01:20 GMT. The precious metal is up 2.3% so far this week.
US gold futures for December delivery rose 0.5% to $3,992.40.
According to the CME FedWatch tool, traders currently expect a 25 basis point rate cut in October and another cut in December at 95% and 82%, respectively.
Markets were affected this week by political unrest in Japan and France, along with the ongoing government shutdown in the United States, factors that cast a shadow over investor confidence, which has flocked to gold as a safe haven.
Gold crossed the $4,000 per ounce threshold for the first time on Wednesday, reaching an all-time high of $4,059.05.
Among other precious metals, spot silver rose 1.2% to $49.70 per ounce after hitting an all-time high of $51.22 on Thursday. Platinum rose 0.4% to $1,625.30, and palladium gained 1% to $1,426. https://www.mawazin.net/Details.aspx?jimare=268153
A Slight Increase In Iraqi Oil Prices In Global Markets
Economy | 09:29 – 10/10/2025 Mawazine News – Baghdad – Iraqi oil prices recorded a slight increase during daily trading on Friday in the global market.
According to data, Basra Medium crude rose to $65.95 per barrel, while Basra Heavy crude recorded $64.40 per barrel, with a change rate of +0.32 for both.
Regarding global oil prices, British Brent crude recorded $65.03 per barrel, while US West Texas Intermediate crude recorded $61.36 per barrel, with a change rate of -0.15 and -0.19, respectively.https://www.mawazin.net/Details.aspx?jimare=268154
For current and reliable Iraqi news please visit: https://www.bondladyscorner.com
