Ministry Of Commerce: A National Strategic Plan To Protect Markets From Regional Fluctuations
Buratha News Agency1602025-06-18 The Ministry of Commerce announced a comprehensive plan on Wednesday aimed at bolstering food security in the country, amid regional tensions.
Ministry spokesperson Mohammed Hanoun told the official news agency, “The purpose of announcing the plan is to strengthen the country’s ability to confront any potential disruptions to food supplies and ensure the continuity of the supply of essential commodities without interruption or excessive price increases.”
He explained that “the plan aims to achieve local market stability by securing a strategic stockpile of essential commodities, improving the ration card’s components to promote social justice, providing a flexible commercial environment that allows for the smooth entry of raw materials, and activating oversight to prevent exploitation and monopoly.”
Hanoun also explained that “the ministry seeks to ensure the stability of the food basket’s supply, both for vulnerable groups and for citizens covered by the program, who number more than 42 million people.”
He noted that “the increase in the ration card’s components is linked to decisions by the Council of Ministers, and the ministry is committed to implementing it through a network of approximately 69,000 distribution agents across Iraq.”
Regarding customs facilitations, Hanoun confirmed that “the measures focus primarily on food commodities and raw materials for the food industry, and include expediting customs clearance, temporarily reducing fees for some high-demand items, and granting inspection priority to goods related to food safety.”
He added, “These facilities do not cover all types of goods, but are implemented according to regulations set by specialized joint committees.”
He also noted that “the ministry has prepared an extensive monitoring plan to control prices in local markets, including deploying field teams in Baghdad and the governorates to monitor prices and verify invoices, in addition to coordinating with the Economic Security Service to take legal action against manipulators and monopolists.”
He added, “A hotline has been activated to receive citizens’ complaints about price increases or shortages, in addition to preparing daily price reports in all governorates to ensure a rapid response.” https://burathanews.com/arabic/economic/461625
The dollar rises again against the Iraqi dinar in Baghdad.
Stock Exchange Economy News – Baghdad The US dollar exchange rate rose in Baghdad markets on Wednesday morning. The dollar price rose on the Al-Kifah and Al-Harithiya stock exchanges, reaching 143,550 Iraqi dinars per $100, while yesterday morning, Tuesday, it reached 143,250 dinars per $100.
Selling prices at exchange offices in Baghdad’s local markets rose, with the selling price reaching 144,500 Iraqi dinars for $100, and the buying price reaching 142,500 dinars for $100. 366 views Added 2025/06/18 – 10:36 AM https://economy-news.net/content.php?id=56374
Iraqi Finance Figures Show A “Soft Rentier” Economy. Are There Alternatives?
Energy and Business breaking 2025-06-18 00:58 Shafaq News/ An Iraqi economist warned on Wednesday against the country’s continued reliance on a rentier economy, noting that it “creates a consumer society” and weakens the national production base. Mohammed al-Hasani told Shafaq News Agency,
“A rentier economy
is usually weak and
produces a consumer society dominated by the import sector,
with little interest in manufacturing industries.
This is what applies to Iraq.”
Al-Hasani called on the Iraqi government to
“work and strive to develop
Iraq‘s industrial production sectors and
diverse agriculture in order to
stimulate the country’s foreign trade sector and
achieve the highest possible financial revenues
that contribute to achieving the highest returns for the
national income and the Iraqi state treasury.”
The Iraqi Ministry of Finance revealed that federal budget revenues from January to March 2025 exceeded 27 trillion dinars, with oil accounting for 91% of total revenues.
Tables issued by the Ministry of Finance in June for the first quarter of the year, monitored by Shafaq News Agency, showed that oil remains the primary source of revenue for the general budget,
reinforcing the rentier nature of the Iraqi economy.
According to the ministry’s data, total revenues amounted to 27 trillion, 248 billion, 764 million, 196 thousand, and 554 dinars, while total expenditures amounted to 26 trillion, 662 billion, 428 million, 661 thousand, and 44 dinars.
Oil revenues alone amounted to 24 trillion, 911 billion, 906 million, and 926 thousand dinars, equivalent to 91% of total revenues, while non-oil revenues amounted to 2 trillion, 336 billion, 857 million, and 269 thousand dinars.
In March 2021, the Prime Minister’s advisor for financial affairs, Mazhar Mohammed Salih, explained to Shafaq News Agency that the reasons behind the Iraqi economy remaining rentier are due to the
wars and economic blockades of the past decades, in addition to the
current political conflicts that have squandered economic resources.
Saleh added that the country’s continued reliance on oil as its sole source of revenue
makes Iraq vulnerable to global crises that impact oil prices,
forcing the country to repeatedly resort to borrowing to cover its deficit.
This reflects weak financial management and an inability to develop effective financing alternatives.
https://shafaq.com/ar/اقتصـاد/رقام-المالية-العراقية-تظهر-اقتصادا-ريعيا-رخوا-هل-من-بدا-ل
Find Out The Gold Prices In Local Markets.
Economy | 12:44 – 06/18/2025 Mawazine News – Baghdad – Foreign and Iraqi gold prices witnessed a slight increase in local markets on Wednesday.
Gold prices in the wholesale markets on Al-Naher Street in Baghdad this morning recorded a selling price of one mithqal of 21-karat Gulf, Turkish and European gold at 680,000 dinars, and a purchase price of 676,000 dinars. The selling price of one mithqal of 21-karat Iraqi gold reached 650,000 dinars, while the purchase price reached 646,000 dinars.
In goldsmiths’ shops, our correspondent explained that the selling price of one mithqal of 21-karat Gulf gold ranged between 680,000 and 690,000 dinars, while the selling price of one mithqal of Iraqi gold ranged between 650,000 and 660,000 dinars. https://www.mawazin.net/Details.aspx?jimare=262737
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