Iraq’s banking region overall deposits declined through 9% in 2024, in step with a file launched on Thursday by way of the Iraq destiny foundation for financial studies and consultations.
The document indicated that deposit values fell from 133.5 trillion Iraqi dinars on the end of 2023 to 123.five trillion dinars, marking a lack of 10 trillion dinars ($7.6 billion.)
Breaking down the decline, the file highlighted a enormous 14% drop in government zone deposits, which reduced from 47.three to 42.eight trillion dinars, attributed to reduced authorities revenues or shifts in liquidity control regulations.
Deposits from public establishments fell by using 7.four%, sliding from 29.6 to 27.4 trillion dinars.
The non-public zone additionally noticed a 6.fifty two% lower in deposits, from fifty six.five to 53.2 trillion dinars, probably reflecting waning self assurance within the banking machine.
through deposit type, contemporary money owed recorded a sharp decline, falling eleven.6% from 107.5 to 97.four trillion dinars, posing the most vast effect given their dominant proportion of total deposits.
constant-term deposits remained surprisingly strong, edging down slightly from 9.67 to 9.62 trillion dinars.
In contrast to the overall downward trend, financial savings deposits extended marginally by way of 0.7%, growing from 16.3 to sixteen.forty three trillion dinars, suggesting a modest shift toward savings.
