Iraq Economic News and Points To Ponder Thursday Afternoon 10-23-25
The Dollar Price Stabilized In Local Markets With The Closing Of The Stock Exchange.
Thursday, October 23, 2025, 5:01 PM | Economics Number of readings: 138 Baghdad / NINA / The exchange rates of the dollar stabilized against the dinar, Thursday afternoon, in Baghdad markets, with the closing of the stock exchange.
The dollar prices witnessed stability in the Al-Kifah and Al-Harithiya stock exchanges, recording 141,400 dinars for $100, the same prices recorded this morning.
The selling prices in exchange shops and local markets stabilized in Baghdad, where the selling price reached 142,500 dinars for $100, while the purchase price reached 140,500 dinars for $100.
In Erbil, the dollar also stabilized, where the selling price reached 141,200 dinars for every $100, and the purchase price reached 141,075 dinars for $100. /End https://ninanews.com/Website/News/Details?key=1258437
Al-Nusairi: Strengthening And Continuing The Implementation Of The Economic Reform Methodology Is A Central Goal After The Elections.
Banks Economy News – Baghdad Economic and banking advisor Samir Al-Nusairi explained on Thursday that in light of the current circumstances, amid the democratic movement, preparations for the upcoming elections, and the economic challenges facing our beloved country, it is necessary to develop a methodology for post-election economic reform that reinforces and continues the economic reform process initiated by successive previous governments, particularly what the current government has undertaken since 2023 in all economic sectors, with a focus on financial and banking reform in cooperation with the Central Bank and international consulting firms.
Al-Nusairi said in an interview with Al-Eqtisad News that the Iraqi economy, through study, analysis, capabilities, and available factors, can overcome imbalances and deviations in the economic structure and achieve balanced and diversified economic and structural reforms for the economy, while insisting on overcoming the objective and subjective economic conditions that the country is experiencing after the elections. Al-Nusairi promised to stimulate, encourage, and support the private sector in accordance with the vision of the Private Sector Development Strategy (2014-2030), which is based on Article 25 of the Constitution, which stipulates (the development of a vital and prosperous national private sector that is locally proactive, regionally competitive, and globally integrated) with the aim of achieving economic diversification, sustainable development, and job creation with the necessary and appropriate steps.
He pointed out the necessity of abandoning the rentier economy, which relies on 93% of oil revenues and constitutes 60% of the gross domestic product, and developing and revolutionizing other vital economic sectors, including agriculture, industry, and tourism, through restructuring state-owned industries, a gradual shift towards the private sector, and encouraging partnerships with local and foreign investors, in addition to reviewing the legislative environment for industrial operations and providing the infrastructure to secure the requirements of the work environment, and expanding the establishment of industrial zones.
He added that improving agricultural production and livestock, providing effective supplies and treatments for fields and farms, maintaining irrigation and drainage projects, supporting agricultural products for export, improving seed quality, and ensuring state prices, as well as supporting entrepreneurship, providing support for small and medium-sized enterprises, and granting soft loans, are all essential components for economic resilience and recovery.
He stressed the need to address the ongoing delay in preparing the general budget and commit to submitting it to the House of Representatives by the date specified in the Financial Management Law, approving it, and issuing its law by early 2026, while emphasizing the completion of the final accounts for previous years and submitting them to the new House of Representatives.
He explained that the country possesses the elements of resilience and economic progress, represented by its possession of the fourth-largest oil reserves in the world, exceeding 150 billion barrels, vast arable agricultural areas, young human resources capable of working, and experts in economics and finance with academic and executive experience, which can lead Iraq to recovery by providing a suitable work environment and securing an investment climate that encourages private capital and contributes to economic development, and stimulating and encouraging the real sector.
Al-Nusairi concluded his speech by pointing to the shortcomings of the legislative environment for managing the economy and the laws regulating economic activity, which were issued in 2004, which calls for reconsideration and making fundamental amendments to them in line with the new situation of managing the economy, international economic changes and their negative impact on the economic reality.
https://economy-news.net/content.php?id=61487
Oil Prices Rose 3% After US Sanctions On Russian Companies.
economy | 08:20 – 10/23/2025 Mawazine News – Economy Oil prices jumped about 2.5% on Thursday, extending gains from the previous session amid renewed supply concerns after the United States imposed sanctions on major Russian oil companies Rosneft and Lukoil over the conflict in Ukraine.
Brent crude futures rose $1.56, or 2.49%, to $64.15 by 03:03 GMT. U.S. West Texas Intermediate (WTI) crude futures rose $1.53, or 2.62%, to $60.03.
The United States expressed its readiness to take further action and urged Moscow to immediately agree to a ceasefire in the Russian war in Ukraine. U.S. President Donald Trump has resisted pressure from members of Congress to impose energy sanctions for months, hoping Russia would agree to end the fighting in Ukraine.
But with no end in sight, he said he felt the time had come. Britain imposed sanctions on Rosneft and Lukoil last week. Separately, European Union countries agreed on the 19th package of sanctions against Russia over the war, which includes a ban on imports of Russian liquefied natural gas.
“President Trump’s new sanctions on Russia’s largest oil companies are aimed at choking off the revenues the Kremlin is funding the war, a move that could lead to a reduction in the actual flow of Russian barrels,” said Priyanka Sachdeva, market analyst at Philip Nova.
Immediately after the US sanctions were announced, Brent and WTI crude futures rose by more than $2 a barrel, also supported by a surprise drop in US inventories. But market skepticism about whether the US sanctions would actually lead to a fundamental shift in supply limited oil’s gains. https://www.mawazin.net/Details.aspx?jimare=268954
Gold Prices Rebound Amid Rising Geopolitical Tensions And Anticipation Of US Inflation Data.
Thursday, October 23, 2025, | Economics Number of reads: 183 Baghdad/ NINA / Gold prices rebounded after declining in the previous session, driven by rising geopolitical risks amid US sanctions on Russia and the possibility of additional restrictions on Chinese exports, while investors are awaiting US inflation data for fresh clues on the path of interest rates.
Spot gold rose 0.7 percent to $4,123.39 per ounce.
US gold futures for December delivery rose 1.8 percent to $4,138.10 per ounce.
Gold prices have risen about 57 percent so far this year, reaching an all-time high of $4,381.21 last Monday, benefiting from geopolitical and economic uncertainty, bets on interest rate cuts, and continued buying by central banks.
As for other precious metals, spot silver rose 1.2 percent to $49.10 an ounce, platinum fell 1.1 percent to $1,603.70, and palladium fell 0.9 percent to $1,445.43. /End https://ninanews.com/Website/News/Details?key=1258424
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