🇮🇶💸 Iraq's Economy Hits a New Milestone: Inflation, Exchange Rate Now Stable — Says Gov’t Advisor!
Unemployment Falls, Dinar Holds Strong, and Price Stability Hits 10-Year High!
📰 Source: Economy News – Baghdad
🎙️ Speaker: Mazhar Mohammed Saleh – Financial Advisor to the Iraqi Prime Minister
🔍 Main Highlights
📉 Inflation in Check
For the first time in Iraq’s modern history, inflation is under control, staying below 3% for three straight years. That’s within what economists call the “natural range.”
📊 Stable Exchange Rate = Stronger Dinar
The official rate of 1,320 IQD per USD has remained solid, with minimal impact from the black market. This has helped stabilize the pricing system across the country.
📉 Unemployment Drops
National unemployment dropped from 17% to 14% — a sign that Iraq’s economic reforms are creating real jobs.
🌾 Gov’t Spending That Shields Citizens
25% of Iraq’s budget now goes toward supporting citizens
This includes agriculture, food & medicine baskets, fuel & electricity subsidies, and tax exemptions
This equates to 13% of the country’s GDP — aimed directly at fighting inflation
🏬 Smart Trade Policy in Action
Iraq is using price defense tactics: expanding state-run stores offering consumer and construction goods at stable, cooperative prices
This has helped keep domestic inflation low
📦 Unexpected Outcome: Exports Up
Because Iraq's prices are so stable, some food and consumer goods are now being exported, benefiting neighboring countries — a new development
for Iraq’s trade scene.
💰 Cash Income Rises Nationwide
Saleh says the "price boom" is boosting Iraq’s real income, reflecting economic growth in the pockets of everyday Iraqis.
💡 Why This Matters
✅ Iraq is entering a new economic phase of growth with stability
✅ Monetary & fiscal policy are aligned and working
✅ Inflation and unemployment are both down — a rare combo
✅ Iraqi dinar remains strong, maintaining purchasing power
✅ This is a foundation for bigger financial reforms, possibly including a revaluation or digital transition
🗣️ “This is a remarkable development, unprecedented in the past ten years.” – Mazhar Saleh
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