Exclusive: Iraq's economic outlook 2025 – optimism amid financial challenges, 23 DEC

 Exclusive: Iraq's economic outlook 2025 – optimism amid financial challenges

Shafaq News/ On Saturday, international economics expert Nawar Al-Saadi revealed future financial and economic expectations for Iraq as 2025 approaches.

Speaking to Shafaq News Agency, Al-Saadi stated, "The economic and financial outlook for Iraq at the beginning of the new year is a mix of optimism and caution, largely dependent on a set of economic, political, and regional factors that directly affect the country's financial and economic stability."

"International estimates indicate an improvement in Iraq's economic growth rates. According to reports from the International Monetary Fund, the Iraqi economy is expected to grow by 1.4% next year, with a projected increase to 5.3% in 2025.

 This growth reflects the economy's recovery after the challenges faced in recent years, particularly after the economic contraction of 2.2% in 2022. The economic growth will be mainly driven by the stability of oil prices and increased investments in non-oil sectors."

Al-Saadi pointed out that "there are concerns about the deterioration of the financial situation due to the expected budget deficit, which is anticipated to widen to 7.6% of GDP next year, compared to 1.3% this year. 

This deficit is attributed to fluctuations in oil prices, the primary source of government revenue, complicating the economic situation due to the heavy reliance on oil, which constitutes about 90% of Iraq's revenues. Any decline in global oil prices could lead to severe financial pressures on the government."

"Other challenges relate to inflation rates, which are expected to rise slightly to 3.5% in 2025. This increase reflects the impact of financial pressures and internal economic challenges, including rising prices of goods and services due to increased production and import costs," he continued, adding, "In terms of oil production, Iraq is expected to maintain a high production level, with plans to boost production capacity to around four million barrels per day by the first quarter of 2025. However, the success of these efforts will depend on political stability and relations with OPEC, as well as achieving long-term investments in energy infrastructure."

Al-Saadi noted, "In the banking sector, the government aims to implement structural reforms to improve the efficiency of the banking system and increase transparency. These reforms are part of a broader vision to develop the Iraqi economy and diversify income sources away from excessive reliance on oil."

Concluding, Al-Saadi highlighted that "Iraq may be heading towards significant economic and financial events. The main challenge lies in the government's ability to manage these challenges effectively through balanced financial and economic policies aimed at enhancing economic stability and diversifying the economy to achieve sustainable growth."

TIDBIT FROM FRANK26, 23 DEC

  Frank26 

 The word 'shock' is not being just used freely.  It is specific to what is about to happen to [the] monetary reform. 

  Once those auctions stop, many Iraqi citizens will start to ask more questions.  It will shock most of the citizens that don't know what's going on.  

It will shock parliament.  It will shock the international markets as it travels in a basket.  That shock wave that will restructure global finances and the American dollar will be put back on top as the ruler of all currencies on this planet.  Mark my words.

MAJEED: " The article Tells you that exist a new Budget and a New Rate of the IQD" @DINARREVALUATION

 

Iraq’s Al-Sudani sets June 10 for Mosul Airport opening, marking “defiance against terrorism”, 23 DEC

 Iraq’s Al-Sudani sets June 10 for Mosul Airport opening, marking “defiance against terrorism”

Shafaq News/ On Sunday, Iraqi Prime Minister Mohammed Shia Al-Sudani directed the opening of Mosul International Airport on June 10 during his field inspection of ongoing work at the airport, as part of his visit to Nineveh Province, northern Iraq.

According to a statement from Al-Sudani’s media office, “The Prime Minister was briefed on the progress of construction, including the airport’s runway and multiple terminals, with the current completion rate exceeding 80%. He reviewed reports from the representatives of the executing company and instructed the removal of all obstacles hindering their work.”

“Prime Minister Al-Sudani directed that the airport be officially opened on June 10, coinciding with the anniversary of Mosul’s occupation, sending a message of defiance against terrorism,” it added. 

The statement further confirmed, “Mosul International Airport is one of the most significant airports in Iraq, following Baghdad and Basra airports. It was systematically destroyed by terrorism, with damage reaching 100%. The project faced numerous technical and administrative challenges, which were overcome through direct support from the Prime Minister.” 

In March, the project's progress was only 30%. However, in the past eight months, it has advanced to over 80%, meeting all requirements set by the Civil Aviation Authority and the State Company for Air Navigation.

Earlier today, Al-Sudani arrived in Mosul (the provincial capital) on an official visit, with his plane landing at the Qayyarah airbase before starting his tour of the province, a well-informed source told our agency. 

"The visit began with the foundation stone ceremony for a thermal station project, attended by the Minister of Electricity and the Governor of Nineveh. Al-Sudani will then proceed to the local administration stadium to lay the foundation stone for a key sports project, joined by several sports figures,” he added. 

In the Old City of Mosul, Al-Sudani will launch the Riverfront Project, joined by the Governor of Nineveh, the Provincial Council Chairman, council members, and department heads. He will also inspect the ancient Wall of Nineveh with the Minister of Culture and visit its historical landmarks. The Prime Minister will then open the new provincial headquarters and meet with tribal leaders and security officials.

For his part, Nineveh Governor Abdul Qadir al-Dakhil told Shafaq News Agency that "PM Al-Sudani laid the foundation for the reconstruction of Old Mosul and the Riverfront Project, marking a significant step toward rebuilding the city and boosting its historical and cultural status… The work will include restoring archaeological landmarks and key facilities.”

“The Prime Minister also laid the foundation for Sports City in western Mosul, set to accommodate 10,000 spectators. Built on the site of the former local administration stadium, the project will feature modern sports halls as part of the government's plan to develop Nineveh's sports infrastructure,” Al-Dakhil affirmed.

Jon Dowling : Epic times now and for the future! , 23 DEC

 Jon Dowling

 Epic times now and for the future! 

Iraq has to either file for bankruptcy, or revalue. Guess what they’re about to do?! 

Meanwhile XRP to soar right alongside it. If you’re a Christian, there’s a certain coin that’s about to skyrocket on Christmas Day. 

Merry Christmas in Christ to the risen one! Gratitude and favor is in store for his children

HERNAN: THE IQD HAS BEEN RV'D IN THE COUNTRY AT $3.49 @DINARREVALUATION #iraqidinarinvestor

 

For two reasons.. A prominent Iraqi faction announces the cessation of operations against Israel “and adheres to the unity of the squares”, 23 DEC

For two reasons.. A prominent Iraqi faction announces the cessation of operations against Israel “and adheres to the unity of the squares”

Shafaq News / The “Sayyid Al-Shuhada Brigades”, one of the most prominent armed factions in Iraq, confirmed on Sunday that the Iraqi factions “wheve and will not” leave the principle of unity of the squares in the face of Israel, while attributing the suspension of their operations to two internal and external reasons.

The term “unity of squares” was first launched after the battle launched by Hamas in May 2021, in response to decisions taken by Israel in the Sheikh Jarrah neighborhood of Jerusalem.

Following the outbreak of the Hamas attack on Israel on October 7, 2023, the leaders of what is known as the “axis of resistance” returned to talk about the “unity of the squares” as a strategic target for the Hebrew state.

The spokesman for the “Sayyid Al-Shuhada” Brigades, Kazem Al-Fartoussi, told Shafaq News that “the principle of the unity of the squares is fixed among the Iraqi factions and this principle cannot be abandoned, but the circumstances are the ones that determine and draw the positions of the factions, and this principle is not linked to a temporary alliance between the factions of the axis of resistance, but it is an issue of principle and a doctrine, and whatever the losses, the Iraqi factions have not and will not leave the principle of unity of the arenas.”

Al-Fartousi pointed out that “the operations of the Iraqi factions against Israel were linked to the operations of Lebanese Hezbollah, and when the ceasefire was reached in Lebanon, the operations of the Iraqi factions stopped, as there are partners in Iraq who have an opinion and reservation from the operations of the factions and must be listened to, it is not clumsiness or recklessness, but you must study things well, especially since these partners are the environment of resistance, so they should be heard without ignoring or stubborn in the situation.”

Recent events in Syria, notably the fall of the Assad regime, have sparked a wave of speculation about the future of Iraq. In Baghdad, large-scale political changes were reported to be approaching. These expectations increased strongly after the revelation of the details of the US Secretary of State’s meeting with the Iraqi Prime Minister, where the latter demanded that decisive measures be taken to confront the influence of the factions close to Iran.

In this regard, the researcher in Iranian affairs, Mujtaba Haidari, confirmed in statements to Shafaq News Agency, that “the decision to dissolve the armed factions in Iraq is not easy to implement, explaining that the Iraqi resistance is a self-movement and not affiliated with Iran, although Tehran supports it.”

Haidari pointed out that previous Iraqi governments were resorting to Iran to calm tensions, especially with American forces, and that Tehran understands these requests and realizes the importance of Iraq’s stability for its national security. The researcher pointed out that the current situation in Iraq makes it unlikely to demand the dissolution of factions, especially with the existence of increasing security threats, stressing that the Iraqis themselves will support the resistance under these circumstances.

The former Deputy Prime Minister, Bahaa Al-Araji, who is close to the current Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed to Shafaq News Agency that “fear of security or political events and developments in Iraq during the next phase is far from reality, as he pointed to the Popular Mobilization, an official Iraqi institution, which has a law legislated, and talking about calls to dissolve the crowd is untrue news.”

As for the armed factions, Al-Araji said, “A decision about them from dismantling or otherwise taken exclusively by the Iraqi state, is an internal Iraqi issue.”

https://www.shafaq.com/ar/سیاسة/لسببين-فصيل-عراقي-بارز-يعلن-توقف-العمليات-ضد-سرا-يل-ويتمسك-بوحدة-الساحات