Iraq Economic News and Points to Ponder Monday Afternoon 12-30-24
40 Trillion Dinars Is Iraq's Internal Debt.. Does The Government Have The "Key" To Repay It?
Time: 2024/12/30 17:56:16 Reading: 819 times {Politics: Al Furat News} Member of the Parliamentary Finance Committee, Jamal Kojer, revealed Iraq’s internal debts, which exceeded 40 trillion dinars.
Kocher told {Euphrates News} that: "Regarding Iraq's internal debts, the numbers speak of more than 40 trillion, and the majority of the debts belong to the government banks, Rafidain, and TBI."
He added, "The government is now able to pay these debts if it opts for withdrawing them from the bank reserve.
" Kocher stressed "the need to schedule debt repayment as a result of the banks' role parallel to the government's role in providing job opportunities and supporting the private sector."
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, announced that Iraq has exited the risks of external debts, and that (Iraq) is a well-fortified country.
He stressed that the ratio of debts to the gross domestic product does not constitute a burden on the state, as it amounts to (5) percent of the gross domestic product, and is confined within the (government banking) system. LINK
Exchange Rates Rise In Baghdad, Stabilize In Erbil With Closure
Economy | 12/30/2024 Mawazine News - The US dollar rose against the Iraqi dinar in Baghdad markets on Monday, while it stabilized in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.
The dollar also rose with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,750 dinars per 100 dollars, while it recorded 151,600 dinars per 100 dollars this morning.
Selling prices rose in exchange shops in local markets in Baghdad, where the selling price reached 152,000 dinars per 100 dollars, while the purchase price reached 151,000 dinars per 100 dollars.
In Erbil, the dollar recorded stability, where the selling price reached 151,700 dinars per 100 dollars, and the purchase price reached 151,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258060
Iraqi Oil Stabilizes At High Level At The Beginning Of Year-End Trading
Economy | 12/30/2024 Mawazine News - Follow-up of the Iraqi oil record at the beginning of the end of the year's trading, today, Monday, stability at an increase during the opening of the week's trading in global markets.
According to economic data, Basra Heavy crude recorded $70.19 per barrel, while the average recorded $73.29 per barrel, with a change of -0.16, respectively, for February 2025 delivery.
The data also showed an increase in global crude prices, with British Brent crude recording $74.30, while US West Texas Intermediate crude recorded $70.66 per barrel, with a change of +0.13 and +0.05, respectively. https://www.mawazin.net/Details.aspx?jimare=258046
Gold Prices Stabilize In Baghdad
Stock Exchange Economy News – Baghdad The prices of foreign and Iraqi gold stabilized in the local markets in the capital, Baghdad, today, Monday.
Gold prices in the wholesale markets on Al-Nahr Street in Baghdad this morning recorded a selling price for one mithqal of 21 karat Gulf, Turkish and European gold of 556 thousand dinars, and a purchase price of 526 thousand dinars.
The selling price of one mithqal of 21-karat Iraqi gold reached 526 thousand dinars, and the purchase price was 522 thousand dinars.
As for gold prices in goldsmiths’ shops, the selling price of a mithqal of 21-karat Gulf gold ranges between 560,000 and 570,000 dinars, while the selling price of a mithqal of Iraqi gold ranges between 530,000 and 540,000 dinars. 82 views 12/30/2024 - https://economy-news.net/content.php?id=51436
Sudanese Advisor Reveals Government's Philosophy For Future Of National Economy
Time: 2024/12/30 Read: 1,131 times {Economic: Al Furat News} The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the government’s philosophy for the future of the national economy, represented by the idea of establishing a sovereign wealth fund.
Saleh told {Euphrates News} that: "The initiation of the idea of a sovereign wealth fund is essential and is consistent with the renaissance of natural resources and undoubtedly comes in parallel with the development path strategy and its outcomes in generating a leading industrial renaissance in the national economy. This is Iraq's outline in building the future of its economy for the twenty-first century and in two directions {the export-oriented development model and the other, and the development model directed towards maximizing the input-output tables and replacing imports within the national economy}.
He added, "Therefore, the sovereign wealth fund will adopt a vision that expresses the strength and basis of the interconnections between the outputs of national wealth from natural resources and the inputs of the production function in the national economy, which requires another model in managing sovereign wealth funds directed towards the interior."
Saleh explained that "the sovereign fund will work to accelerate the diversification of the three basic sectors, which are the manufacturing industry, agriculture and services, in an advanced digital age. This is what the government program aspires to in its philosophy for the future of the national economy, which did not neglect the idea of partnership between state activity and market activity in sustainable development." LINK
Exchange Rates Rise In Baghdad, Stabilize In Erbil With Closure
Economy | 12/30/2024 Mawazine News - The US dollar rose against the Iraqi dinar in Baghdad markets on Monday, while it stabilized in Erbil, the capital of the Kurdistan Region, with the closing of the stock exchange.
The dollar also rose with the closing of the two main stock exchanges in Baghdad, Al-Kifah and Al-Harithiya, to record 151,750 dinars per 100 dollars, while it recorded 151,600 dinars per 100 dollars this morning.
Selling prices rose in exchange shops in local markets in Baghdad, where the selling price reached 152,000 dinars per 100 dollars, while the purchase price reached 151,000 dinars per 100 dollars.
In Erbil, the dollar recorded stability, where the selling price reached 151,700 dinars per 100 dollars, and the purchase price reached 151,600 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=258060
Iraqi Ports Announces 2024 Achievements: Electronic Automation And Increase Of Revenues To One Trillion Dinars
Economy | Mawazine News - The Iraqi General Company for Ports announced, Today, Monday, the most prominent achievements for the year 2024, which included the introduction of electronic automation and the implementation of reform measures in port work, which contributed to raising port revenues to exceed the barrier of one trillion Iraqi dinars.
The company's general manager, Farhan Al-Fartousi, confirmed during a press conference that "work on the Grand Faw Port project has achieved remarkable progress, as the completion rate of the five projects in the port exceeded 80%. He also pointed to the start of the operating phase through the competition of 11 international companies to operate Container Terminal No. 1."
Al-Fartousi added that the number of ships that entered Umm Qasr Port during the current year exceeded 3,000 ships, while the number of containers exceeded 1.8 million containers, which reflects the development in port performance and the achievement of a qualitative leap in the management of Iraqi ports. https://www.mawazin.net/Details.aspx?jimare=258062
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