Shafaq News/ Iraq has funneled over $300 billion abroad in official import-related transfers over the past five years, while customs revenues have stayed alarmingly low, the Iraq Future Foundation for Economic Studies and Consultancy reported on Tuesday.
Manar al-Obaidi, head of the foundation, disclosed that between 2019 and 2024, Iraq transferred 415 trillion dinars (about $311 billion) for imports, citing Central Bank figures. Over the same period, the Ministry of Finance collected just 8.5 trillion dinars in customs duties—less than 2% of the total outflows.
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This return is strikingly low,” al-Obaidi observed, estimating that under a standard 7% tariff, even with exemptions, Iraq should have brought in at least 29 trillion dinars. The shortfall tops 21 trillion dinars, or approximately $14.5 billion. “This estimated loss is conservative; the actual figure could be much higher.”
Al-Obaidi also cautioned that tariff waivers don’t fully explain the gap, blaming entrenched flaws in the customs system. “The scale of lost revenue points to pervasive loopholes and systemic inefficiencies.”
For decades Iraq has relied almost entirely on oil sales to support its economy.
But now the government is working to create a second source of income by getting involved in the global carbon market...Iraq also plans to raise money through carbon bonds which are investments tied to projects that lower emissions.
This shift not only helps Iraq cut pollution...but also attracts new investors and supports long-term financial stability.
This is excellent news for Iraq and for IQD investors.
Al-Sudani Confirms The Continuation Of Work On Construction, Reconstruction And Development Projects Throughout Iraq
Monday, June 9, 2025 | Politics Number of reads: 257 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed the continuation of work on construction, reconstruction and development projects across Iraq.
Al-Sudani said during his meeting with a number of sheikhs and dignitaries of Anbar Governorate, hosted by the Chairman of the Anbar Tribal Council of Sheikhs, Head of the Al-Bu Dhiab Tribe, Sheikh Hamid Turki Al-Shawka: "We conducted continuous tours in the governorates and developed a special plan for each governorate that suits its service and economic conditions."
He added: "Anbar has many potentials and opportunities, and the government has provided great support to the local government to complete stalled projects and establish new ones."
The Prime Minister continued: "Gas investment in Anbar is at the top of the government's priorities, and we have directed the completion of the Akkas field project, which will provide fuel for the 1,600 megawatt Anbar gas station."
Politically, Al-Sudani said: "Iraq's positions are based on its national interests, mutual respect, and non-interference in internal affairs. We have kept Iraq away from the circle of
conflict in the region and emphasize its important pioneering role through its presidency of the Arab Summit and the Development Summit.
We have a vision for the most important challenges and problems and have provided solutions for each file and structural reforms in every sector."
He went on to say: "We proposed the Strategic Development Path project and worked to engage friends and brothers according to a vision of intertwined interests. We directed to address the water scarcity crisis, and the government has put in place mechanisms and plans to confront this crisis."
During the meeting, Al-Sudani offered his sincere congratulations on the occasion of Eid al-Adha, asking God Almighty to spread security and stability throughout Iraq and to alleviate the suffering of our people in Palestine and Lebanon in the face of the ongoing Zionist aggression.
He pointed to the image of cohesion and solidarity among our people from all governorates, and the role of tribes in facing various challenges, most notably the challenge of terrorism, stating:
"The security and stability that Iraq enjoys is thanks to the blood of the martyrs and wounded heroes," stressing the endeavor in this atmosphere to achieve more construction, reconstruction and development throughout Iraq. / End https://ninanews.com/Website/News/Details?key=1233398
The Betzabe Pentecostal leader said that there are still no established dates to deliver the blessings and the rumors that she has been arrested are false, that she is waiting for the exit that is out of her hands, when that will happen,
There is a frantic public in Colombia that goes to the banks saying that they will receive millions and she tells those people to be cautious because they cannot put their lives in danger, this MR Salvage thinks that they are waiting for IRAQ to leave.
TRANSLATION IN SPANISH
MR. SALVAGE
INFORME DE MR SALVAGE desde COLOMBIA
la líder pentecostal betzabe dijo que aún no hay fechas establecidas para entregar las bendiciones y los rumores de que ha sido arrestada son falsos, que está esperando la salida que se le escapa de las manos, cuando eso sucederá,
hay un público frenético en Colombia que va a los bancos diciendo que recibirán millones y ella le dice a esa gente que sea prudente porque no puede poner sus vidas en peligro, este MR salvage opina que están esperando a que IRAQ se vaya.
Gold Prices Stabilize Amid Anticipation Of A New Round Of Talks Between The US And China.
Monday, June 9, 2025 | Economic Number of reads: 215 Baghdad / NINA / Gold prices stabilized on Monday, amid hopes that a new round of trade talks between the United States and China could ease tensions between the world's two largest economies.
The precious metal was traded above $3,306 an ounce, after falling on Friday with the release of better-than-expected US jobs data, which eased some concerns about a slowdown in the US economy.
Top trade negotiators from Washington
and Beijing are scheduled to hold a new round of talks in London on Monday, with a particular focus on China's dominance in rare earth production.
