Thursday, August 28, 2025

Salary Relief Ahead? KRG Employees Await Sunday Transfer

Ministry of Finance: Money will probably be sent on Sunday

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Ministry of Finance: Money will probably be sent on Sunday


An official of the Ministry of Finance and Economy of the Kurdistan Region of Iraq (KRG) told Ava that Baghdad will send the sixth month salaries of the Kurdistan Regional Government (KRG) employees.

 The video for this My FX Buddies Blog post is below here:

Main story: The Secretariat General of the Iraqi Council of Ministers on Wednesday officially sent a letter to the Iraqi Finance Minister Taif Sami and the relevant ministries, the letter contains five decisions on salaries and the agreement between Erbil and Baghdad .

Special Information: An official of the Ministry of Finance and Economy of Kurdistan told Ava: Most likely the money will be sent on Sunday, when the money arrives after a few hours will be published, the next day in cash by banks and digitally by my account.

More information: The salary schedule is the same as the previous month, starting with civilian pensioners and ending with the Zerevan forces, within two to three days all salaried employees will receive their salaries.

 

Final agreement is imminent; Two meetings on oil will be held in Erbil and Baghdad

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posted 3 hours ago as of the time I posted here

Final agreement is imminent; Two meetings on oil will be held in Erbil and Baghdad

 


A delegation from the Ministry of Natural Resources will meet with oil production companies early next week, then go to Baghdad on Tuesday to meet with the Iraqi Oil Ministry and SOMO.

Large picture: On 25-3-2023, the Paris Court of Arbitration suspended the export of oil from the Kurdistan Region, despite the Kurdistan Regional Government's commitments to the agreements with the Iraqi government to export the oil, but the problem has not been resolved.

Ava information: Ava has learned that the aim of the meeting is to reach an agreement on the export of oil from the Kurdistan Region. A high-level delegation from the Iraqi Ministry of Natural Resources and oil companies will visit Baghdad on Tuesday to meet with senior officials of the Ministry of Oil and SOMO, Sabah Subhi, a member of the Iraqi parliament's oil and gas committee, said

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What was the main problem?

Iraq had told the oil companies to reach an agreement with the Kurdistan Regional Government (KRG), but the companies have demanded a tripartite agreement with both the Iraqi and Kurdistan governments.

What is expected: A final agreement on oil is expected next week, as oil production in the Kurdistan Region has risen to about 200,000 barrels per day.



The remittance of money for the salaries of the region was signed

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The Minister of Finance signed the remittance of the sixth month salaries of the Kurdistan Regional Government employees.

Iraqi Finance Minister Taif Sami has signed a letter to pay the sixth month salaries.

According to the Kurdistan Regional Government (KRG), the amount of 120 billion dinars was sent to the Iraqi Finance Ministry this morning.

It is worth mentioning that if the Kurdistan Regional Government had sent the 120 billion dinars yesterday, the money would have been deposited into the account of the Kurdistan Regional Government today, but due to the delay in sending the money.


A government bank launches an account statement service for visa purposes.

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Rafidain Bank announced today, Thursday, the launch of its account statement service for visa purposes via the Ur portal, as part of its ongoing efforts to simplify procedures and develop its services.

In a statement received by Al-Eqtisad News, the bank stated that, "In line with its plans to simplify procedures and enhance the path of continuous development, and in cooperation with the Information Technology Department at the Ministry of Finance, the account statement service for visa purposes has been launched via the Ur Government Services Portal."

He added, "The service aims to enable customers to obtain a bank statement detailing their financial transactions and verify their financial capacity when applying for travel visas, in accordance with the requirements of several embassies and relevant authorities, and in a simple and quick electronic manner that reduces the need for direct review."

The bank confirmed that "this service is available to customers who have current, savings, or deposit accounts and whose salaries are domiciled with the bank. Customers must provide identification documents, a national ID card, and an electronic payment card (MasterCard), in addition to accurately entering data and uploading documents to successfully complete the application." 


Erbil deposits 120 billion dinars of its non-oil revenues into Baghdad's treasury.

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Kurdish source revealed on Thursday that the Kurdistan Regional Government (KRG) has deposited 120 billion dinars from its non-oil revenues into a special account at the federal Ministry of Finance.

The source said, "The amount represents the Iraqi treasury's share of the region's non-oil revenues for May, and was deposited in the Central Bank branch in Erbil for the benefit of the federal Ministry of Finance." He explained that "the move comes in compliance with the financial agreement between Erbil and Baghdad, which regulates the transfer of revenues in exchange for securing the salaries of the region's employees."

He pointed out that "the deposit aims to remove obstacles to the disbursement of overdue salaries and ensure the stability of financial agreements between the two parties over the coming months."

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Beyond Oil: Digital work is forging Iraq's new economic identity

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Beyond Oil: Digital work is forging Iraq's new economic identity

Iraq’s labor market is undergoing a quiet transformation—driven not by government initiatives or corporate investments, but by the individual choices of women, students, and young professionals.

Across Baghdad and other cities, home-based ventures are multiplying, while a parallel trend—dubbed “digital migration”—allows skilled workers to sell their expertise abroad without leaving the country. Together, these shifts are redefining how Iraqis view work, income, and professional identity, moving away from rigid, formal employment toward flexible, technology-driven livelihoods.

The change has been years in the making, but accelerated after the COVID-19 pandemic forced Iraqis to seek income during lockdowns and economic uncertainty. By late 2024, internet penetration had risen to nearly 83% of the population, compared to just 44% in 2019. Expanded connectivity opened doors to global marketplaces, social media commerce, and remote job platforms—creating a new layer of economic activity unimaginable a decade ago.

For many, these platforms are more than a convenience—they are a survival strategy. They bypass the gatekeepers of traditional employment and allow direct access to customers or employers, offering autonomy in a labor market where options have long been constrained.

Women and youth, historically sidelined in Iraq’s formal economy, are at the forefront. Female labor-force participation remains among the lowest globally—just over 10%—while youth unemployment pushes students and graduates toward part-time, flexible arrangements they can balance with studies or caregiving duties.

Farah Ahmed, a 30-year-old lawyer, spent years navigating Baghdad’s courtrooms for clients, often returning home without work. “I would wait for long hours… and often return without any work,” she recalled. Frustrated, she turned to online commerce, launching a small clothing business on TikTok with her husband’s support. Daily livestream sales now generate a steadier income, though she still offers legal services to friends and acquaintances. The work comes with its own hurdles—fraudulent orders, prank buyers, and sudden cancellations—but it gives her greater control over her time and earnings.

Students are also carving out niches in the informal online economy. Saja Alwan, 19, a Fine Arts Institute student, began offering fitness coaching and diet plans on social media after completing online training courses. The work allows her to finance her studies without disrupting them, though she faces challenges such as late payments, unrealistic client expectations, and the constant need for self-promotion.

At the higher end of the skills spectrum, improved broadband and remote-work platforms have expanded “digital migration,” enabling Iraqis to work for foreign employers from home. University of Technology graduate Hassan Farouq left a local telecom job with low pay and poor treatment to join a foreign software company, earning in dollars and avoiding long commutes. Engineer Hassan Mustafa had a similar experience, citing higher pay, professional respect, and better work-life balance from his role with an international firm that deposits his salary into a local bank.

Legally, Iraq has had the framework for e-commerce for over a decade. The 2012 Electronic Signature and Electronic Transactions Law recognizes digital contracts, while the 2010 Consumer Protection Law outlines rights for buyers and sellers. But enforcement remains weak—e-signature certification is inconsistent, dispute resolution is underdeveloped, and existing consumer protections do not fit the fast-paced, cross-platform nature of livestream selling.

To address these gaps, the government introduced E-Commerce Regulation No. 4 in 2025, aiming to license online businesses, mandate clear disclosures, and create compliance mechanisms. The challenge now lies in fair enforcement and ensuring that small sellers can register without being buried in bureaucracy.

Economists note that these micro-enterprises absorb unemployment and broaden participation in the economy, especially for women and youth. Yet, because most remain unregistered, they contribute little to tax revenue. Policymakers face the task of integrating these businesses into the formal economy without deterring participation—through simplified registration, tax exemptions for low turnover, and microcredit linked to formalization.

According to digital business consultant Mohammad Awada, in the remote-work sector, clearer recognition of freelance contracts and banking reforms to facilitate foreign currency payments could help turn digital migration into taxable, sustainable income.

“While the government continues to expand broadband infrastructure, partnerships with civil society, universities, and business chambers could provide digital-literacy training in pricing, record-keeping, dispute handling, and fraud prevention. International bodies like UN Women and the ILO could bolster this shift with micro-grants and targeted training for women and youth,” he told Shafaq News.

If embraced, Awada argued that this transformation could yield a more dynamic small-business sector, higher household incomes, and greater inclusion in Iraq’s labor market. If neglected, it risks remaining fragile—dependent on global platforms, vulnerable to fraud, and invisible to policymakers.

As Hassan Mustafa put it, “The virtual world is more real than we imagine.”


Seven Loaves for a Day’s Work': Iran’s Workers Struggle Under Economic Strain

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Ordinary Iranians navigate the old main bazaar of Tehran as rising prices and inflation put daily essentials increasingly out of reach, July 31, 2025. (Photo: AP)

For millions of Iranian workers, the simple act of buying bread has become a symbol of economic despair. According to the state-run Iranian Labour News Agency (ILNA), the official minimum daily wage of 346,000 tomans now buys only seven loaves of sangak bread in Tehran. “A worker labors for a full day only to buy plain bread,” ILNA reported, capturing the dramatic collapse of purchasing power.

Monthly salaries, officially set at around 14 million tomans, fall far short of covering basic needs as prices of staples soar. Just a few years ago, a day’s wage could buy a kilogram of meat; today, workers must save three days' wages to afford the same. “Now they even sell meat in installments,” labor activist Maziar Gilani-Nejad told ILNA. “This is not just poverty—it is humiliation for the working class.”

The Human Toll of Subsidy Cuts

Workers accuse the government of abandoning them by stripping away subsidies on essential goods such as bread and medicine. A 52 percent rise in bread prices this summer has forced families to cut back on meals. Medicine has surged by as much as 400 percent in recent months, and some patients are reportedly skipping treatment altogether. “The government refuses to subsidize the people’s bread and medicine,” Gilani-Nejad said. “Yet billions of dollars are spent on cars and luxury imports that only the wealthy enjoy.”

Education costs have also jumped. The Education Ministry admitted that school textbooks are 60 percent more expensive this year, further straining households. “What kind of future can we promise our children when bread, education, and medicine are all out of reach?” asked one Tehran factory worker, speaking anonymously to ILNA.

Currency Reform Seen as a “New Earthquake”

At the heart of these anxieties is the government’s push to unify Iran’s multiple exchange rates. Officials argue the reform will stabilize markets and curb corruption. But for ordinary families, the fear is simple: another shock that will send food and medicine prices spiraling even higher. “The move toward a single currency rate is not economic reform—it is another earthquake that will bury the working class,” ILNA warned in its report.

Iran’s Statistical Center says inflation reached 41.2 percent in July, the highest in two years, with no signs of slowing. As incomes stagnate and prices climb, workers are bracing for more hardship. Many warn that frustration is nearing a breaking point. “When a father cannot feed his children, when a mother cannot afford medicine, this anger will spill into the streets,” a labor organizer cautioned.

For now, families are tightening their belts, cutting meals, and buying essentials on credit. But activists fear that continued subsidy cuts and currency reform will deepen inequality and spark social unrest. “The government’s policies have swept the poor people’s tables clean,” Gilani-Nejad said.

Years of Sanctions and Economic Strain

Iran’s economy has been under intense pressure for more than a decade, largely due to international sanctions targeting its oil exports, banking sector, and access to global financial systems. The re-imposition of U.S. sanctions in 2018, following Washington’s withdrawal from the 2015 nuclear deal, dealt a particularly heavy blow, cutting off key revenue streams and limiting the country’s ability to import essential goods.

The effects of sanctions have been compounded by chronic inflation, currency volatility, and rising unemployment. The Iranian rial has lost significant value over the years, eroding purchasing power for ordinary citizens and making imported goods—ranging from medicine to food staples—exponentially more expensive.

According to official statistics, inflation in 2024 reached over 40 percent, its highest level in two decades, highlighting the daily hardships faced by workers and low-income households.

Experts and domestic critics also point to mismanagement of financial resources as a key factor aggravating economic difficulties. Large sums of public money have been allocated to luxury imports, subsidized loans for the wealthy, and state-backed projects that often benefit politically connected elites, while essential social programs, healthcare, and food subsidies have been reduced. 

This uneven allocation of resources has deepened inequality and intensified the impact of global sanctions on ordinary Iranians.

In combination, years of external economic pressure and internal mismanagement have created a fragile financial environment. Rising prices for basic necessities, shrinking real wages, and uncertainty over government policies, including subsidy cuts and currency reforms, have left millions of Iranians struggling to meet daily needs and have fueled growing public anxiety about their economic future.

 

Parliamentary Committee: Teachers' allowances will be disbursed retroactively from the date of the law's publication.

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The Parliamentary Legal Committee confirmed on Thursday that the allocations for educators, which were raised from 150,000 to 300,000 dinars, will be disbursed retroactively from the date of the law's publication in the Official Gazette if they are disbursed in the 2026 budget.

Committee member Raed Al-Maliki said, "The financial allocations for educators, amounting to 300,000 dinars, will become effective as soon as the text of the law is published in the Official Gazette."

He stressed that "the allocations will be disbursed retroactively from the date of the law's publication, if the 2026 budget is approved, as it is a fixed financial entitlement," according to Al-Sabah newspaper.

Accordingly, it is expected that the law will not be published in the Official Gazette now, until after the budget is approved, in order for the government to avoid paying the money retroactively. It is also expected that the government will appeal the law after the elections, as it contains a financial aspect and is outside the powers of parliament.

For his part, MP Yassin Al-Ameri pointed out that “the law stipulates the formation of a joint committee from the Ministries of Education and Finance to begin disbursing allocations, obligating the Ministry of Finance to implement what is stated therein in accordance with Article Six. It also includes doubling the service of working outside the official site, which will positively reflect on retirement, and includes transferring schools built on lands not owned by the Ministry to the Ministry of Education to end administrative chaos and unify the education sector. It also approved the allocation of 300,000 dinars per month for each educator to support their role in the educational process.”



A gradual plan to shut down Wi-Fi in Iraq has been put in place.

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The Ministry of Communications revealed on Thursday a gradual plan to shut down Wi-Fi services in Iraq.

The ministry said in a statement received by Al-Eqtisad News, that "Minister of Communications Hiyam Al-Yasiri chaired an expanded meeting that included the companies (Earthlink, Supercell, and FiberX) in the presence of the ministerial team. During the meeting, fiber optic projects were followed up and the conversion of service subscriptions to electronic via the National Data Center (onboarding) was discussed, as well as the gradual scheduling of Wi-Fi shutdowns with the aim of converting subscribers to FTTH services."

The statement added that "the meeting reviewed mechanisms for expanding the fiber optic network to reach all residential areas, including villages and rural areas," noting that "these steps are part of the minister's strategy to advance the communications and information technology sector and strengthen Iraq's position in the field of digital networks in the service of the public interest."



President of the Republic: There is an urgent need to pass the oil and gas law.

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President Abdul Latif Jamal Rashid stressed that there is an urgent need to pass the oil and gas law and detailed laws on the distribution of revenues, to solve the existing problems.

The President said in a televised interview: "The Arab-Kurdish Cultural Center is an important step towards strengthening common rapprochement through studying common history and destiny."

He explained: "The relationship between the federal government and the Kurdistan Regional Government is good in all areas, and the existing differences are originally between the provinces and the federal government, and what is common to them is greater than the differences."

He stressed: "There is an urgent need to pass the oil and gas law and detailed laws on the distribution of revenues to solve the existing problems, and unfortunately, Parliament has not succeeded in passing the important oil and gas law."

He pointed out: "It is the government's duty to provide salaries for all employees, and we have a major problem in government expenditures from salaries, as they reach more than 80% of the state's revenues, while in other developed countries they do not reach more than 6%, and we must solve this problem."

He added: "We must ensure free and fair elections, and prevent the exploitation of power and its resources for electoral purposes. We, in the four presidencies, agreed on a document to be electoral regulations to be adopted by the Electoral Commission and other bodies concerned with organizing them."

He stressed that there is no truth to the postponement of elections or the formation of an emergency government, and we must ensure our people's confidence in holding fair elections on time. We in Iraq are proud that all electoral processes took place on time without delay.


The President stressed that the world is facing a major water crisis as a result of climate change, including Iraq. We must obtain a fair share from neighboring countries, stop our waste, and use modern irrigation and agricultural methods.

He stressed: "The continued aggression on Gaza has a negative impact on the entire region, and our position in Iraq is clear and not new, in our support for the Palestinian people in achieving their full legitimate rights to self-determination. The aggression must now stop, humanitarian aid must be delivered, and famine must be stopped."


Iraqi ports are included for the first time in the global list of STS service providers.

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The General Company for Iraqi Ports announced today, Thursday, its official inclusion, for the first time in its history, on the global list of Ship-to-Ship Transfer (STS) service providers , according to the list issued by the global consulting firm Dynamarine .

In a statement received by Al-Sa'a Network, the company's general manager, Farhan Al-Fartousi, said, "The launch of side-loading services at ports represents a strategic shift that will enhance the confidence of shipping companies and maritime fleets ."

He added, "The company provides side-loading services using modern equipment and specialized personnel, and has received excellent ratings from the vessels it has handled." He noted that "joining the international list will contribute to increasing the number of incoming vessels, increasing revenues, and expanding the scope of maritime services to keep pace with the requirements of global trade ."

Al-Fartousi pointed out that "this achievement comes as part of the General Company for Iraqi Ports' strategy to improve the quality of its services and strengthen Iraq's position on the international maritime transport map .



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