Sunday, March 23, 2025
Forecasts of global economic variables and their impact on the Iraqi economy (2025-2030), 24 MARCH
Forecasts of global economic variables and their impact on the Iraqi economy (2025-2030)
Samir Al-Nusairi
In light of analyzing the current situation of international economic, political and security variables and the extent of their expected impact on the Iraqi economy.
And with a close eye to the challenges and crises that the national economy has gone through, influenced by the economic crises that the major economic countries have suffered from, and the strategic conflicts between America and China, and the bias of some countries towards the American strategy to lead the world economically, and other countries moving towards the strategy of China and some emerging countries to establish a new international economic pole to confront American hegemony.
One of the most prominent consequences of this conflict is the global energy and food crisis, which has lasted for more than a decade and continues to plague countries with weak, poor, and rentier economies, preventing them from making a structural and comprehensive transition to emerging economies capable of withstanding the impacts of global economic conflicts.
Since mid-June 2014 and until the first quarter of 2020, the Iraqi economy has faced complex and cumulative challenges due to shifts in the global economy, the slowdown in global economic growth due to the US-China conflict, the COVID-19 pandemic, the fight against terrorism, the decline in global oil prices, which reached rates exceeding 70%, and the economic recession. Most countries around the world have been affected by these repercussions, which have had a profound impact on the Iraqi economy. What concerns us is the outcome of these repercussions and the expectations, impacts, and implications for the current economic reality in Iraq in the coming years and until 2030.
In light of the study and analysis, the following can be expected at the level of the global economic system and its repercussions on Iraq:
Firstly, it is expected that the growth rates of the global economy will decline significantly in the American economy and the economies of the European Union countries, China and Russia, but at varying rates. The economic recession will prevail in most countries of the world and this will be reflected in a slowdown in the growth of the gross domestic product by rates ranging between (4-10%) in the Arab oil-producing and non-oil-producing countries, especially after the countries of the geographical region entered new challenges due to the Zionist aggression on Gaza, the West Bank, Lebanon, Syria and Yemen.
This has created a new complex situation that will have negative effects on the national economy.
Secondly, the new global economic order that we expect to emerge in the coming years will inevitably take shape and will be under the clear economic and financial leadership of America and China. The Silk Road will be activated to include the countries through which it was planned to pass to revive their economies and will actually be completed. It is also expected that the development path will be completed and that there will be an important role for Iraq and the countries participating in the project and that this will have positive repercussions on the economy.
Thirdly, the philosophy of economic management will most likely shift from the capitalist market economy to the social market economy currently adopted as a disciplinary ideology, as in China and some other countries around the world. These are just early predictions, and the Arab economy will most likely be subservient to the new, larger and more economically powerful pole.
So what is required of economic decision-makers in Iraq in the face of these developments and changes expected to sweep the world? I see, with a penetrating analytical eye to the current economic reality, that we urgently need radical and comprehensive economic change and reform based on the following key axes:
First: Re-changing the map of national income resources by reducing dependence on oil as the main resource and activating other resources in the coming years to bring them to 30% of the total resources of the general budget.
Second: Radically and comprehensively changing agricultural, industrial, commercial, oil, energy and water policies by relying on local resources to ensure food and water security, encouraging, protecting and supporting local production, and developing programmes and strategies to protect consumers.
Third: Supporting, developing and stimulating the private sector and utilizing its capabilities, potential, capital and investments in building the national economy and involving it in economic decision-making and economic management.
Fourth: Developing clear strategies for coordination between monetary and fiscal policies, formulating clear financial policies, and restoring the foundations for preparing and presenting annual general budgets based on programs rather than items. Reducing the budget deficit to the legally specified percentage of the gross domestic product, as well as reducing domestic borrowing to the lowest possible level and avoiding borrowing from abroad at all.
Fifth: Completing the new methodology adopted by the Central Bank for banking reform and development and digital transformation in all digital fields, with a focus on implementing the Central Bank’s strategy, establishing the financial center, and using artificial intelligence in analyzing, ensuring transparency and accuracy of data for sound economic planning purposes and overcoming the challenges of instability in the financial and monetary systems.
This means developing coordinated and balanced plans to overcome the challenges of monetary policy, the challenges of the deficit in non-oil revenue, the deficit in the balance of payments and the trade balance, and the percentage of contribution of the productive sectors (the real economy) to the gross domestic product link
DINAR EXCHANGE: Iraq’s delegation concluded meetings with the International Monetary Fund (IMF) , 24 MARCH
DINAR EXCHANGE
In February 2025, Iraq’s delegation concluded meetings with the International Monetary Fund (IMF) in Amman, where participants,
including Minister of Finance Taif Sami and the Governor of the CBI, discussed Iraq’s economic performance and sustainable growth. The IMF acknowledged the progress made. Additionally, the CBI has been promoting digital payments to enhance financial inclusion, with initiatives increasing the use of ATMs and e-wallets, raising financial inclusion from 20% to 40% in just two years.
Iraq contracts with China to build a medical city in Dhi Qar at a cost of 490 billion dinars., 24 MARCH
Iraq contracts with China to build a medical city in Dhi Qar at a cost of 490 billion dinars
Prime Minister Mohammed Shia al-Sudani sponsored, today, Saturday, the signing ceremony of the contract to establish the medical city in Dhi Qar Governorate, with the Chinese company (CSCEC), which is considered one of the largest contracts in the medical and healthcare sector.
Al-Sudani commended all the efforts made by the Dhi Qar Reconstruction Fund, the Ministry of Health, and other supporting agencies, which resulted in the signing of this 490 billion dinar contract, which will begin implementation soon.
He emphasized that Dhi Qar Governorate and its sacrificial people deserve the implementation of such a vital project, which will generate economic returns and prevent citizens from having to travel for medical treatment.
His Excellency affirmed that the Medical City project and the medical sector in general are at the top of the government's priorities, stressing the importance of continuing to implement projects in this sector, in order to proceed with the remaining structural reforms, especially the implementation of the health insurance law, and the projects to localize the pharmaceutical industry, which have achieved a qualitative leap.
He pointed to the government's efforts to implement seven hospitals in all governorates, complete the projects of lagging hospitals, and adopt a method of joint management and operation with international health institutions.
The Dhi Qar Medical City Project includes (13) independent medical facilities, including 7 hospitals with a total capacity of (700) beds, namely the main hospital with 200 beds, a specialized children's hospital with 100 beds, a specialized women's hospital with 100 beds, a blood diseases and oncology center with 100 beds, a specialized internal medicine and digestive system hospital with 100 beds, an emergency hospital with 50 beds, a consulting clinics complex, specialized centers, buildings for forensic medicine, research and studies, a blood bank, and a doctors' house.
The first phase of the project will be built on an area of 93 dunums, while the second phase will be built on an area of 39 dunums. link
TIDBIT FROM MNT GOAT, 24 MARCH
Mnt Goat
Article: "DIRECT IMPLEMENTATION OF THE ASYCUDA SYSTEM AT ABU FLUOS CUSTOMS IN BASRA"
Quote: “The electronic automation system (ASYCUDA) has been implemented at the Abu Flus Customs in Basra Governorate.”
The more provinces that have been implemented with ASYCUDA means more revenue streams to Baghdad. They told us years ago that the Customs and Tariffs could rival the oil revenue, if they could only get it managed correctly.
They are doing this now and this is yet another sign of this coming to a reality.
...the ASYCUDA system needs to be linked to FOREX to get the most current rates of currencies in order to determine the tariff amount.
How can this work without FOREX or some link to the most currency rates, not just the IQD. This is also supported by the WTO, who requires this linkage of data between ports of entry. We should be watching this effort carefully.
Al-Sudani chairs a meeting to follow up on reform measures for the Rafidain and Rashid banks., 24 MARCH
Al-Sudani chairs a meeting to follow up on reform measures for the Rafidain and Rashid banks
Prime Minister Mohammed Shia al-Sudani chaired a meeting on Sunday to follow up on reform measures at the Rafidain and Rashid banks.
Al-Sudani's office stated in a brief statement received by the Mail that "Prime Minister Mohammed Shia al-Sudani chaired a meeting to follow up on reform measures for the Rafidain and Rashid banks, in the presence of representatives from Ernst & Young link
AJ : THE NEW DIGITAL SYSTEM WILL TRACK EVERY DINAR!!, 24 MARCH
AJ
THE NEW DIGITAL SYSTEM WILL TRACK
EVERY DINAR
Hey everyone, remember when I had this video pinned at the top of my feed last year? Well, we knew they were going to use DLT, aka blockchain; we just didn’t know it was going to be a CBDC. So first, let’s break down what they told us last summer about their new digital dinar and said, QUOTE: “would be better than the rest of the countries of the world.”
The Central Bank of Iraq (CBI) has been working on and testing its Central Bank Digital Currencies (CBDCs) for some time, as part of a broader financial reform strategy to modernize Iraq’s economy, as highlighted in two key videos I shared last September.
The CBI is rolling out two types of CBDCs: retail and wholesale, each serving distinct purposes.
The retail CBDC, detailed in the first video, is designed for everyday use by citizens and companies. It focuses on tracking the movement of the Iraqi dinar at the individual and corporate level, ensuring the CBI knows “where the dinar comes from and where it goes.”
This system, which the CBI claims is “better than the rest of the countries of the world,” The goal is to rehabilitate government banks like Al-Rafidain Bank, turning them into productive institutions that offer an integrated package of banking services through advanced electronic programs.
The wholesale CBDC, outlined in the second video, is for large-scale transactions, in millions, specifically for foreign transfers like import payments. It involves banks, ensuring funds are used “actually for import purposes and not for other purposes.”
The CBI has implemented special procedures, requiring regulatory companies to provide statements verifying that these operations are “100% sound,” confirming the imports are legitimate and the money isn’t diverted (e.g., to black markets).
This platform enhances international compliance standards, aligning with global rules like AML/CTF requirements, while a consultancy (Ernst & Young) provides studies to support economic development.
For instance, when Iraq imports goods, the wholesale CBDC ensures the payments are trackeThe CBI’s been testing these systems , Iraq’s digital dinar is primarily retail-focused, per Saleh and Al-Hashimi (article), for citizens via wallets. Used by the public for everyday transactions.
The retail CBDC will helps citizens pay for goods and services just like paper currency, while the wholesale CBDC ensures import payments are legit, both driving non-oil revenues and economic stability.
Tomorrow, I’ll dive deeper into the digital dinar CBDC and expand on the details. So turn on notifications!
Transcript of video
Retail public digital dinar.
Enhances international compliance standards. Meanwhile, the country is witnessing financial and monetary reform paths that included many procedures and decisions. The financial and banking reform process was adopted by the Sudanese government on the subject of rehabilitating government banks so that they become productive banks.
The Iraqi is trying to have a system for tracking the movement of the Iraqi Dinar that is better than the rest of the countries of the world. The global software system has now contributed to the solidification of international financial transfer procedures. We will now move to reform the internal system through a system for tracking the movement of the Dinar and knowing where the Dinar comes from and where it goes at the individual level and at the corporate level.
Improving the reality of work, the banking sector, and at the top of the list, is Al-Rafidain Bank, which comes within a strategy whose goal is to provide an integrated package of banking services to citizens and companies that rely on advanced electronic programs.
Wholesale CBDC
Special procedures to develop the service for all foreign transfers in the future. (imports)
Only by giving the statement of these regulatory companies support that these operations are 100% sound operations for imports purposes only through them are you sure these imports are real and the money spent or transferred to them is actually for import purposes and not for other purposes. according to economists,
The company the consultancy will contribute to providing studies for the purposes of economic development and in a way that enhances international compliance standards.Oil Expert: Oil Prices Rising To $72 Will Have A Positive Impact On The Iraqi Economy, 24 MARCH
Oil Expert: Oil Prices Rising To $72 Will Have A Positive Impact On The Iraqi Economy
Time: 2025/03/22 12:16:56 Read: 1,275 times Economic: Al Furat News} Oil expert Hamza Al Jawahiri confirmed today, Saturday, that recording oil prices and Brent at an average of $72 per barrel has a positive impact on the prices of Basra crude and Iraqi oil in general.
Al-Jawahiri explained in a statement to Al-Furat News Agency, "Heavy Basra crude may be less valuable, but the rise in the prices of Brent crude and oil in general contributes to raising the value of the remaining Iraqi crudes."
Al-Jawahiri pointed out that "these prices are considered safe and good for the Iraqi economic situation," explaining that "any increase above $70 per barrel is safe and does not pose any economic problems for Iraq." LINK
MARKZ: EXCERPTS FROM MARKZ TIER 4B & REDEMPTION CREWS🚨, 24 MARCH
EXCERPTS FROM MARKZ
TIER 4B & REDEMPTION CREWS🚨
MZ: Let's get to it, guys. Let's just dive right in. I am getting some interesting conversations as some of the groups are starting to set dates for their redemption crews to be in, well, mostly Western U.S.
MZ: I don't want to get myself in trouble on giving anything on specifics.
MZ: I am certain it's going to start hitting boards soon, but that some of the groups appear to be bringing in their redemption crews specifically for 4B, for when people bring in more currency.
MZ: In other words, they don't have everything in 4A already SKR'd, so what they're bringing extra, they're starting to set that up. So it gives me all kinds of warm ones. And yeah, it's weird to leave it right there, but I have to.
Washington Calls On Erbil To Expedite The Export Of Kurdistan's Oil, 24 MARCH
Washington Calls On Erbil To Expedite The Export Of Kurdistan's Oil
March 22, 2025 Erbil - Al-Zaman US National Security Advisor Michael Waltz urged the Kurdistan Region to expedite the formation of a government and resume oil exports through the Turkish port of Ceyhan, which have been halted since March 2023.
The US advisor's request came during a phone call he made Friday evening with Kurdistan Regional Government Prime Minister Masrour Barzani to discuss "ways to strengthen relations between the Kurdistan Region and Iraq with the United States," according to a statement from the regional government.
Waltz and Barzani agreed on the "need to expedite the formation of the new Kurdistan Regional Government cabinet and reiterated their commitment to resuming Kurdistan Region oil exports as soon as possible." LINK
🚨 CONTINUATION !! SYSTEM GOES LIVE !!! : IQD: $10.21 - Public trade screens GO LIVE TONIGHT!, 24 MARCH
🚨 CONTINUATION !! SYSTEM GOES LIVE !!!
🔴HIGH ALERT: The Banking System Is Transitioning!
Massive financial activity is now visible across the entire global infrastructure. Inside sources report that Tier 4B final releases are activating in synchronized phases. The IMF and BIS have been forced to acknowledge the transition, and attempts to stall the inevitable have FAILED!
💥LIVE PAYOUT CONFIRMATIONS
💰 IQD: $10.21 - Public trade screens GO LIVE TONIGHT!
💰 VND: $6.42 - Early Tier 5 reports indicate full accessibility within hours!
💰 ZIM: Special handling - Military oversight ACTIVE!
🚀 GLOBAL RESET IN MOTION!
Banks are transitioning to the Quantum Financial System as we speak. Insider chatter confirms full compliance from major financial institutions. The old system is FADING-the future is HERE.
🔴 ALL EYES ON THE FINAL EXECUTION PHASE!
This is the moment where history is being rewritten. The biggest financial event in modern history is UNFOLDING IN REAL TIME.
DO NOT MISS A SINGLE UPDATE - THE NEXT 12 HOURS ARE EVERYTHING! 🔔
A government advisor reveals an electronic system that will transform company registration from weeks to minutes.. 23 MARCH
A government advisor reveals an electronic system that will transform company registration from weeks to minutes.
3/23/2025 - Baghdad
On Sunday, the Prime Minister's advisor, Mazhar Mohammed Saleh, revealed the importance of a single window for company registration, noting seven exceptional advantages, including reducing the time required to register companies from weeks to minutes.
"Establishing a unified electronic system for company registration is an important step to support commercial activity and stimulate investment in Iraq," Saleh said in a statement reported by the official news agency and seen by Al-Eqtisad News. "It not only facilitates procedures but also enhances business efficiency and creates a strong, more advanced and innovative economic environment, driven by several fundamental factors, most notably: accelerating procedures and reducing red tape."
He pointed out that "this digital system reduces the time required to register companies, which used to take weeks or months, and turns it into hours or minutes, allowing entrepreneurs and investors to quickly start their businesses without having to travel between multiple government agencies."
He added that "this system reduces operational and administrative costs, as it also contributes to reducing reliance on paper transactions, thus reducing costs for investors; avoiding many fees associated with paper documents, transportation, and other additional expenses."
Saleh explained that "the digital system enhances the research topic to a high degree of transparency, as the electronic company registration system is an important part of the government's philosophy of digital transformation and e-governance, due to its high credibility.
The aforementioned electronic system enables immediate verification of data and reduces the chances of manipulation or errors, which enhances trust between investors and government agencies, ultimately improving the business environment. It is one of the most important standards adopted by the World Bank for emerging economies in this regard, as it attracts investment and enhances competitiveness."
He continued, "The electronic system achieves a high degree of connectivity and network integration between relevant entities digitally, such as the General Tax Authority, investment authorities in the governorates, banks, in addition to the company registrar itself, with the relevant departments of the Ministry of Commerce, with extreme speed, accuracy, and high efficiency, which helps in making the right investment and production decisions."
He added, "It contributes to supporting entrepreneurship and small projects, as it encourages the removal of bureaucratic obstacles facing emerging business owners, which contributes to increasing the number of small and medium-sized enterprises, which constitute the backbone and main pillar of the national economy within the government program's strategy and its applications, and are in line with the comprehensive national development plan 2024-2028." LINK
LOOKS LIKE WE HAVE EXCHANGE TRADING COMING UP🙏💸, 23 MARCH
LOOKS LIKE WE HAVE EXCHANGE TRADING COMING UP
IRAQ STOCK EXCHANGE WILL NOT ORGANIZE TRADING SESSIONS FROM MARCH 16, 2025 DUE TO HOLIDAY
WILL THEY TRADE MARCH 23, 2025
Iraq Stock Exchange will not organize trading sessions from Sunday Marchl.16.2025
13/03/2025 10:47
I was finally able to access site. Says NOT SECURE AT TOP. I had to click on a link someone sent me. Anyone else having issues? Would love to know. Thank you as always.
Now LET’S RV
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