According to Manar Al-Obaidi, head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations, deposits in Iraqi commercial banks increased in June 2024 to 129.88 trillion Iraqi dinars, representing an annual growth rate of 3.74 percent and a monthly growth rate of 1.43 percent.
In a Facebook post, Al-Obaidi said that current deposits, which make up about 80% of deposits, increased by 6.68 percent annually and 1.67 percent monthly to reach 104.55 trillion Iraqi dinars. On the other hand, savings deposits, which make up 12.74% of deposits, decreased by 4% annually to reach 16.2 trillion Iraqi dinars, despite the monthly growth rate of 0.9%.
Fixed deposits, which account for 7% of all deposits, decreased by 0.29 percent per month and by 11.84 percent annually to 9.13 trillion Iraqi dinars. According to Al-Obaidi, the private sector accounted for 43% of all deposits, with a total value of 55.89 trillion Iraqi dinars. Annual and monthly deposits increased by 2.38 percent and 1.54 percent, respectively.
Al-Obaidi says that central government deposits, which make up 34.3% of all deposits, increased by 5.49 percent per month and 10.85 percent per year to reach a total value of 44.63 trillion Iraqi dinars. On the other hand, public institution deposits, which make up 22.6 percent of all deposits, saw their monthly growth rate decrease by 4.33 percent and their annual growth rate decrease by 3.38 percent, reaching a total value of 29.36 trillion Iraqi dinars.
