Deputy Speaker of Parliament: New US decisions may be issued regarding Iraq
Shakhwan Abdullah, deputy speaker of the Iraqi parliament, said on Saturday that the administration of US President Donald Trump may make new political and economic decisions regarding Iraq.
The video for this blogpost is below here:
This came during his speech at a scientific conference on the present and future of Kirkuk, which was held at Soran University in the Kurdistan Region of Iraq.
In his speech, Abdullah explained that Kirkuk has always been the focus of conflict between the great powers due to its wealth of intellectual, mineral and natural resources. He added that its geographical location has made it face policies of Arabization and demographic change over the decades.
He stressed the need for all parties to work to restore rights to their owners in Kirkuk, with the aim of addressing the effects of previous policies that affected the city's demographics.
Abdullah confirmed that the Iraqi parliament has reactivated the Article 140 Committee, in a move aimed at abolishing the legacy of the Baath regime and addressing the changes that have occurred in the demographic composition of the areas covered by this article.
He also referred to his recent visit to the United States of America, where he returned to Iraq this morning. He explained that during the visit, he discussed the issue of Kirkuk and the disputed areas with the US Assistant Secretary of State and the head of the religious authority in the United States, noting that the American side views these areas with great importance.
The Deputy Speaker of the House of Representatives concluded his speech by pointing out that the new US administration may issue several political and economic decisions concerning Iraq and the United States, which has been discussed on several occasions with the federal government.
NEWS for FRI FEB 21 2025
Despite Iranian denial, a delegation from Washington will arrive in Baghdad “soon” to begin negotiations with Tehran - Urgent
Former House of Representatives Rapporteur, Muhammad Othman Al-Khalidi, revealed today, Friday (February 21, 2025), the imminent arrival of a high-ranking American delegation to begin the first steps of indirect negotiations with Iran.
Al-Khalidi said in an interview with Baghdad Today, "It seems that the White House has decided to proceed with important negotiations with Iran through the Iraqi capital, Baghdad, even if indirectly," noting that "the delegation that is expected to attend soon came after several messages were submitted through Iraqi mediators to Tehran in order to determine the features of the upcoming negotiations and the axes that will be discussed."
Al-Khalidi added, "The negotiations between Washington and Tehran are important for the Middle East region, in order to reduce tension and seek a way out of what is happening."
He pointed out that "what matters to us as Iraqis in these negotiations is that Baghdad not be an arena for conflicts and tensions, and that we be a party that enhances security and stability, and that we do not side with any axis," stressing that "Baghdad is trying, through its relations with Washington and Tehran, to push all parties to negotiations that contribute to preventing the spread of crises and tensions in this vital region."
Al-Khalidi explained that "Washington and Tehran have come to realize that tension does not serve their interests, and therefore they are seeking points of understanding that can be built upon in negotiations that may contribute to resolving complex issues such as the nuclear file and other problems, including economic sanctions."
He continued: "Iraq will follow these negotiations in the hope that they will result in understandings between America and Iran that will have a positive impact on the region."
Iranian government spokeswoman Fatemeh Mohajerani confirmed that negotiations with America under the current circumstances are meaningless.
According to Iranian media, she said, "In the situation where America is practicing a policy of maximum pressure, negotiations are meaningless, but we are a people ready to negotiate," indicating, "The door to negotiations has always been open on Iran's part, and whoever closes the door to negotiations is someone else."
She continued: "They are the ones who did not abide by what they signed and left the negotiating table, while we are good negotiators and always welcome the opportunity to talk to the world and bring peace."
However, Iran's Supreme Leader, Ali Khamenei, said that experience has shown that negotiating with the United States is "neither smart, nor honorable, nor wise," and that negotiations with the United States will not solve Iran's problems, according to Iranian media.
Khamenei's statements came during his reception of a crowd of commanders of the Iranian Air Force, and in response to US President Donald Trump's announcement that he had signed a memorandum preventing Iran from possessing nuclear weapons.
He stressed: "Negotiating with America has no effect on solving the country's problems, and we must realize this fact correctly. They must not delude us that sitting at the negotiating table with that government will lead to solving this or that problem. No, no problem will be solved through negotiating with America, and past experience has proven this," according to the Iranian agency.
Shy admission of "financial deficit".. Iraq will suffer and everything is "on hold" except salaries
Iraq's 2022 budget announced a financial surplus, driven by rising oil prices in global markets. Officials' statements at the time reflected optimism about the country's economic situation and its ability to overcome challenges, but this optimism did not last long. Just three years later, Iraq faces a completely different financial reality, with official reports indicating "a large financial deficit in the state treasury."
This sudden shift from a financial surplus to a deficit raises fundamental questions about the economic and financial policies followed by the Iraqi government during this period, as the Ministry of Finance revealed the existence of a deficit suffered by the state treasury, implicitly and timidly through an official letter, in which it demanded the Prime Minister "not to burden the treasury with additional burdens by fixing the contracts of meter readers in the Ministry of Electricity on the permanent staff of the ministry, due to the deficit suffered by the treasury in financing the salaries of employees and retirees and the social protection network."
In this context, economic researcher Nabil Jabbar confirmed in a statement to Al-Jabal that “there are no fears of stopping the disbursement of salaries at the present time,” but “the Ministry of Finance is facing confusion in the process of recycling funds on a monthly basis.”
Jabbar told Al-Jabal that funding for government projects may be “more vulnerable to funding cuts” in light of this deficit, warning that “any drop in oil prices, or even their continuation at their current levels without increasing the exported quantities, may put the Iraqi government in a very difficult position.”
The value of the three-year budget reached nearly 153 billion dollars per year, with a large financial deficit estimated at nearly 48 billion annually, which observers considered "an alarm bell for the Iraqi government in the event of a decline in oil prices."
The Iraqi government has become aware of the problem of the growing financial deficit, which is mainly due to the “spending plans in the three-year budget,” according to Jabbar, who explained that “the flaw in the budget design lies in the significant increase in expenditures and an unrealistic and insufficient assumption of revenues.”
It has recently become clear - according to Jabbar - that "implementing the entire budget may make the deficit close to 25% of it, which is something that is difficult to cover using the usual deficit-covering methods."
Although the Ministry of Finance denied the existence of a salary deficit, it did not officially deny the letter in which it acknowledged the deficit in the salaries of employees, retirees, and social protection.
For a long time, the Parliamentary Finance Committee has been talking about the existence of a real financial deficit in the Ministry of Finance regarding the cash liquidity to pay salaries, and “the disbursement of salaries was delayed for days in one of the past months due to this deficit,” according to the committee.
Economist Abdul Rahman Al-Mashhadani criticised the Ministry of Finance’s statements regarding the existence of a budget deficit, considering them “negative statements that affect the economy, investment and citizens. ”
Al-Mashhadani expressed his surprise at these statements, stressing that the ministry is "able to meet the funding requirements," especially with the continued export of oil in large quantities and oil revenues estimated at $7.5 billion per month, in addition to other revenues from taxation.
Al-Mashhadani pointed out that investment projects did not constitute a large number in 2024, as only 12 trillion dinars were spent out of nearly 57 trillion allocated for them, and that most of the revenues achieved go to salaries and wages.
Al-Mashhadani revealed the existence of “mismanagement of public funds from beginning to end,” noting that “the number of employees has increased, which has led to a significant increase in costs, with no accurate count of the number of employees yet.”
Al-Mashhadani also criticized the Finance Minister's "failure to resort to domestic and foreign borrowing to cover the deficit," noting that "the Central Bank is supposed to lend the government about 20 trillion dinars annually."
However, economic expert, Munir Al-Obaidi, warned of the "danger" of the rise in internal debt in Iraq, which he confirmed had witnessed an increase within one year, equivalent to 4 years from 2020 to 2023.
For economists and political analysts, the interruption of salaries and wages will have a “significant negative impact on the Iraqi economy and citizens,” and may lead to “demonstrations and social unrest, especially with the lack of basic services such as electricity,” as Abdul Rahman Al-Mashhadani puts it.
At the same time, economic expert Nabil Al-Marsoumi confirmed in a statement to Al-Jabal that the situation will be “difficult” if the price of oil falls below $70 per barrel, noting that “public finances are suffering due to the lack of rationalization of public money.”
Al-Marsoumi revealed that “the financial surplus, which was estimated at 23 trillion dinars, and which the government used during the past two years, has run out,” and that “all spending has stopped, all investment expenditures have stopped, and contractors’ dues have stopped, except for employee salaries and care.”
Al-Marsoumi warned that "indicators of a decline in oil prices have become clear, including the near end of the Russian-Ukrainian war, and the OPEC meeting in early March, which may push the oil market down."
He pointed out that "there are no short-term solutions other than rationalizing public money," while stressing that Iraq "will suffer if the price of oil falls below $70, and this will increase with the possibility of a cut-off of Iranian gas, and thus a new electricity crisis with a new financial crisis, and this affects the entire economic life."
Member of Parliamentary Finance: The failure of the 2025 budget tables to reach Parliament is hindering the work of spending {12/1}
Kocher told {Euphrates News} agency, "Despite the government's commitment to the requirements of Article 71 of the 2023 Budget Law, which obligates it to send the schedules on time annually."
Kocher pointed out that "the 2024 budget schedules cannot be voted on as an alternative to the 2025 budget, explaining that work is not being done according to Law (12/1) because the approved budget is not annual, but rather a three-year budget covering the years 2023, 2024 and 2025."
He explained that "disbursements during the year 2025 will be based on the share (12/1) of that year's budget within the time frame of the three-year budget."
Financial Supervision: We have indicated a clear renaissance in our national industries
The Federal Board of Financial Supervision indicated the presence of signs of progress in the national industrial reality during recent years, and while the Board indicated that Iraq relies in its federal budgets on the revenues of its oil exports to a large extent, it called for the implementation and activation of the consumer protection and local product laws to advance it.
The Assistant Director General of the Industrial Activity Audit Department at the Bureau, Dr. Iyad Aziz Saleh, said in an interview with "Al-Sabah", followed by "Al-Eqtisad News", that "the industrial sector in Iraq is one of the most prominent components of the non-oil economy, and strategies have been adopted to encourage and enhance investment, which were set by the Investment Law of 2006 (amended) in order to raise the efficiency of the performance of industrial companies that aim to produce and market manufactured products according to approved specifications for each product to meet local needs," noting that "there are standard products to meet the needs of the consumer, such as (cement, dairy, soap and oils), and non-standard products that are produced according to demand, such as the manufacture of electric generators of various capacities and voltage transformers, which are equipped only according to the needs of the Ministry of Electricity."
He added, "Some companies have obtained a certificate from the international ISO organization, which is an independent body. These specifications are a series of frameworks that help the department manage its business effectively and confirm and guarantee the quality of products such as Iraqi cement and food products."
dilapidated production lines
Saleh explained that “the majority of industrial companies in the country operate at low capacity due to the old machines, equipment and production lines, as most of them date back to the seventies and eighties of the last century, as they operate with old technology that does not keep pace with the progress achieved in the industrial sector, as well as the inability of the national grid to supply many factories with electrical power, and the openness of the local market to imported products, which had an impact on the lack of competition of national products in market prices and quality.”
He stressed that "the Ministry of Industry and Minerals has adopted a plan to rehabilitate and develop most companies through partnership contracts with the private sector, based on the Public Companies Law No. (22) of 1997 (amended), which regulates the work of state-owned public companies in partnership or partnership with a foreign company to implement work within its activities inside Iraq, relying on the legal basis of partnership contracts within the aforementioned law, which gave companies the right to participate with Arab and foreign companies and institutions to implement work related to the company's objectives inside Iraq, as well as relying on the Investment Law No. (13) of 2006 (amended), including public sector projects contracted to rehabilitate or operate with the private and mixed sector with all the advantages and guarantees included in the aforementioned law, and the law applies to projects that were contracted before the enforcement of this law."
Merger of companies
He continued, "The Ministry of Industry worked on merging companies based on Cabinet Resolution No. (360) of 2015, but most of these companies were exposed to problems and obstacles as a result of not completing their merger procedures, such as the General Company for Design and Implementation of Projects, which was established as a result of the government reform plan after the merger of three previous companies, which suffers from not completing the legal procedures for the merger, which led to the absence of final accounts certified by the Federal Financial Supervision Bureau for the merged companies, which stipulated in the merger resolution that the rights and obligations of the three companies be transferred to the parent company."
He explained that “the termination of contracts for companies is done through the legal department in them and taking measures according to the terms of the contract against the defaulting companies, and there may be an extension of the contract period to give an opportunity to complete the implementation of the contract or terminate it,” noting that “the regulatory bodies present in the government departments audit the concluded contracts and implement them according to the plan of the Bureau and record the regulatory observations regarding them and the extent of compliance with the terms of the contracts and other laws related to them.”
Protection laws
Saleh called for "activating the Iraqi Products Protection Law No. (11) of 2010 (amended) after the changes that occurred in the Iraqi economy and opening markets to global trade and flooding local markets with foreign products similar to local production at a lower price, which led to hindering the establishment of a local industry and the loss of fair competition."
He stressed that "Iraq today is in dire need of activating customs tariff laws, as it relies in its federal budgets on oil export revenues by approximately (90 percent), and Consumer Protection Law No. (181) of 2018 must be activated as it is one of the regulations designed to guarantee consumer rights, fair trade and competition, which was designed to prevent acts related to fraud or unfair practices to obtain more advantages over other competitors, and also provides additional protection for the most vulnerable groups in society."
Aziz expressed his hope to protect the local product "in a way that ensures support and protection of industrial projects and their ability to compete with industries in neighboring countries."
Parliamentary Oil: Rising oil prices boost treasury, improve currency reserves
Al-Moussawi explained in a statement to {Al-Furat News} agency, that “the Iraqi economy depends largely on oil revenues, as oil constitutes more than 90% of government revenues.”
Al-Moussawi pointed out that "the rise in oil prices leads to an increase in government revenues, which enhances the state's ability to finance the budget and support development projects and public services. It also contributes to reducing the financial deficit if it exists, and improves foreign currency reserves, as Iraq depends on the US dollar to sell its oil."
She added that "the rise in oil prices increases the Central Bank's foreign exchange reserves, which enhances the stability of the Iraqi dinar and improves the economic situation in general."
Iraq invites Japanese companies to invest, confirms readiness for new economic phase
The Senior Undersecretary of the Ministry of Foreign Affairs, Ambassador Mohammed Bahr Al-Uloom, confirmed today, Friday, that Japan has contributed to the reconstruction of Iraq with 34 vital projects, while calling on Japanese companies to invest in Iraq.
Bahr Al-Uloom said, during the celebration of the Japanese Emperor's birthday and the National Day: "The relations between Japan and Iraq are historical and date back to 1939," praising "the development witnessed by these relations to reach the level of fruitful diplomatic partnership."
He added that "the name of Japan is associated in the Iraqi memory with the meanings of loyalty, honesty and efficient performance, in addition to the lofty human values that are consistent with our Arab and Islamic values and our ancient civilization in Mesopotamia, especially in the Sumerian and Babylonian civilizations."
He added that "the high level of civilization that Japan has achieved in the fields of economy, construction, industry and technology was not a coincidence, but rather the result of strenuous efforts made by successive generations of the Japanese people, deriving determination and strength from Japan's ancient civilization," explaining that "Japan contributed to supporting the march of freedom and democracy in Iraq after 2003, and participated with its forces in maintaining security and stability in Muthanna Governorate, an unprecedented step that left a unique humanitarian impact on the residents of the governorate."
He stated that "the two countries share in supporting each other diplomatically in international forums and UN institutions," noting that "Japan provided grants and development loans to Iraq, which contributed to the construction and rehabilitation of 34 vital projects in various Iraqi cities and regions. The most prominent of these projects is the establishment project, which is the most recent in the Middle East and the first in Iraq to convert oil waste into high-quality derivatives, which is being implemented by the Southern Refineries Company in cooperation with the leading Japanese company "JGC", and will provide thousands of job opportunities in Basra Governorate."
He stressed that "Iraq today faces new horizons of cooperation that carry promising opportunities thanks to its stability and development in the security and economic fields, which makes it a fertile and attractive environment for investment," calling on "leading Japanese companies to be a strategic partner in this new phase of Iraq's economic renaissance, inspired by the successful Japanese experience in development and progress."
Bahr al-Uloom expressed his "admiration for the Japanese development experience," pointing to "the similarities between the two countries in geopolitical challenges."
He explained that "Iraq seeks to benefit from the distinguished Japanese model by expanding areas of cooperation and exchange of expertise," explaining that "the investments of Japanese companies in Iraq are not just a strategic choice, but rather part of the modern economic vision adopted by Iraq under the leadership of Prime Minister Mohammed Shia al-Sudani."
Bahr al-Uloom pointed to "the remarkable growth in trade cooperation between the two countries in recent years," stressing that "Iraq seeks to enhance this cooperation to include larger projects that have a greater impact on the welfare of the two peoples and the stability of the region."
He announced "Iraq's desire to expand areas of partnership," calling on "Japanese companies and institutions to intensify their presence in Iraq."
Reuters: Trump administration gives Iraq a choice between quickly resuming Kurdish oil exports or facing sanctions
The United States of America threatened, today, Friday, February 21, 2025, the federal government in Iraq with sanctions if the Kurdistan Region's oil exports are not resumed quickly.
Reuters quoted sources as saying: "The administration of President Donald Trump asked Iraq to resume (Kurdish) oil exports quickly or face sanctions alongside Iran."
The sources added, according to Reuters, that "Washington believes that Kurdish oil sales may help reduce crude prices and compensate for the decline in Iranian supplies."
Oil Minister Hayan Abdul Ghani revealed on Tuesday that Iraq had sent a delegation from the ministry to the Kurdistan Region to agree on a mechanism for delivering the region’s oil and exporting it through the Turkish port of Ceyhan.
The Minister of Oil explained that he had contacted the Minister of Natural Resources in the region, Kamal Mohammed Saleh, to negotiate with the delegation about the mechanism for receiving and exporting oil through the Turkish port of Ceyhan.
This came a day after Iraq accelerated the expected date for the resumption of oil exports from Kurdistan, as the federal oil minister said last Monday that oil exports from the Kurdistan region could resume within just a week.
It is noteworthy that the President of the Region, Nechirvan Barzani, announced a few days ago that the resumption of shipments will likely take place next March.
Iraq exports between 400,000 and 500,000 barrels per day from fields in the north of the country, including the Kurdistan region, via the now-defunct Iraq-Turkey pipeline.
Oil Minister Hayan Abdul Ghani said earlier this month that at least 300,000 barrels per day of crude were planned to be moved once operations resumed.
In Iraqi Kurdistan, oil production ranges between about 280,000 and 300,000 barrels per day, and the regional government estimates its needs for domestic consumption - including power generation - at about 110,000 to 120,000 barrels per day.
Al-Halbousi stresses ensuring Christian participation in state institutions and national decision-making
To the Chaldean community delegation in Michigan
Statement of the media office of the head of the Progress Party, Mohammed al-Halbousi,
Today, Friday, the head of the Progress Party, President Mohammed al-Halbousi, received a delegation from the Iraqi Chaldean community in the US state of Michigan.
The head of the Progress Party welcomed the delegation, pointing out that the Christian component is an integral part of the Iraqi people and has proven their adherence and belonging to their country while abroad.
The meeting discussed the situation of the Christian component and the challenges they face in Iraq, stressing the importance of taking into account the rights of the components, including the Christian component, and ensuring their effective participation in state institutions and national decision-making.
The head of the Progress Party stressed the government's orientation towards supporting Christian component areas through a package of projects, which suffered from destruction after the war on terrorism, pointing out the importance of attracting Christian competencies, businessmen and investors to work in Iraq.
Soon.. The first branch of a digital bank in Baghdad
The International Development Bank announced the imminent launch of its first digital branch in Baghdad.
The bank said in a press statement: "The first digital branch of the bank will be launched soon in the capital, Baghdad," noting that "this branch will greatly facilitate the completion of citizens' transactions, especially the bank's customers."
The United Nations announces its support for Iraq in recovering its smuggled funds and combating cross-border corruption
The Deputy Representative of the Secretary-General of the United Nations, Ghulam Mohammad Ishaqzai, expressed his readiness today, Friday, to remove the obstacles that prevent Iraq from recovering its smuggled funds.
The head of the Federal Integrity Commission (Mohammed Ali Al-Lami), according to a statement by the Integrity Commission received by (Al-Mada), stressed "the importance of cooperation with international organizations to recover Iraq's smuggled funds, indicating that corruption and the smuggling of its proceeds have become problems that cross borders and continents and require international cooperation to limit them.
During his meeting with (Ghulam Mohammad Ishaqzai), Deputy Special Representative of the Secretary-General of the United Nations for Iraq, Al-Lami praised the programs launched by the organizations affiliated with the United Nations and their assistance to Iraq in various fields after 2003; to overcome the problems and dilemmas left by the dictatorial regime and to support state institutions to advance them after the damage they suffered after the change, noting that Iraq is one of the first countries to join the United Nations and the treaties and agreements emanating from it, including the United Nations Convention against Corruption.
Al-Lami expressed his "hope that international organizations would help Iraq recover its funds that were looted before 2003, and for which binding resolutions were issued by the UN Security Council, pointing to the establishment of the Iraq Fund Recovery Fund to recover all financial rights of the Republic of Iraq that were obtained by others through illegal means; as a result of the misuse of the Oil for Food Program, the blockade, smuggling, economic sabotage, or exploitation of the sanctions imposed on Iraq; to achieve financial gains at the expense of the Iraqi people."
He stressed the need to implement international resolutions and restore Iraq's money, in order to invest it in the reconstruction process, build infrastructure and achieve development.
For his part, Ghulam Mohammad Ishaqzai, Deputy Special Representative of the Secretary-General of the United Nations, expressed his "readiness to overcome the obstacles that prevent Iraq from recovering its smuggled funds, and to continue cooperating with the Iraqi oversight agencies to hold workshops and seminars to develop their staff and increase their expertise in the field of preventing, combating, and prosecuting corruption perpetrators."
He praised "the pioneering experiences of the Iraqi Integrity Commission, stressing the importance of establishing strategic partnerships with the Commission based on the experiences gained by the organizations affiliated with the United Nations in dealing with international files in various parts of the world.
New reform plans for the banking sector in Iraq
Saleh said in a special statement to {Al Furat News}, "The first vision focuses on the importance of achieving integration between national banks in a way that enhances their role in supporting the Iraqi economy, pointing out that this requires updating the financial infrastructure and adopting modern technologies to meet the requirements of the era.
The second vision, according to the financial advisor, is related to developing two comprehensive reform plans targeting the public and private banking sectors, with the aim of improving the performance of these institutions in accordance with international standards. He explained that the reform will include improving governance and financial management and enhancing transparency, which will facilitate the involvement of Iraqi banks in the global financial relations network.
Saleh added that the direct goal of banking reform is to enable Iraqi banks to deal more effectively with the outside world, ensuring economic openness and attracting foreign investments, as well as strengthening Iraq's position on the international financial scene.
This trend comes in light of the government’s ongoing efforts to develop the financial sector and enhance its role in achieving sustainable development and supporting the national economy, as banking reform is viewed as an essential step towards achieving these goals.
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The Ministry of Oil announces the completion of procedures to resume the export of Kurdistan oil through the port of Ceyhan
link now we need Turkey to confirm
Completing procedures to resume exporting oil produced in the Kurdistan Region via Ceyhan Port
The regional authorities demand that the quantities produced from the operating fields be handed over to the Oil Marketing Company to begin exporting through the Iraqi-Turkish pipeline and the port of Ceyhan.
The region sets two conditions for resuming oil exports via Türkiye
The negotiating delegation of the Kurdistan Regional Government set two conditions today, Saturday, to resume oil exports through the Turkish port of Ceyhan.
The delegation stated, in a statement received by "Al-Da'i News": "Regarding what was stated in the statement of the Federal Ministry of Oil regarding completing the procedures for resuming the process of exporting crude oil from the fields of the Kurdistan Region, we would like to clarify that despite the regional government's confirmation of its commitment to implementing the law of the first amendment to the Federal General Budget Law regarding the re-export of oil produced from the region's fields to the Turkish port of Ceyhan through the State Oil Marketing Company (SOMO)."
He added: "However, in our joint meeting with the delegation of the Federal Ministry of Oil held on (18-2-2025) in Erbil, it was confirmed that the implementation of the above law requires, before starting the export, an agreement on the quantities allocated for the purpose of local consumption according to the actual needs of the region and its obligations, similar to the rest of Iraq, and the federal side explained that the matter requires obtaining the approval of the Prime Minister of the Federal Council."
The delegation continued: "On the other hand, re-exportation requires agreement on a specific and clear mechanism to pay the dues of production and transport companies to the regional government according to what is stated in the law and in detail that was stated in the minutes of the meeting with the delegation of the Federal Ministry of Oil. The federal side explained that this matter is related to the Federal Ministry of Finance and this requires discussing this issue with it."
He explained: "Therefore, we stress to the federal side the need to expedite the resolution of the above-mentioned issues and obtain approvals from the federal authorities, which we discussed in detail in the meeting."
He explained that "the regional government stresses the need to re-export the region's oil as soon as possible by the State Oil Marketing Company (SOMO) and deposit its revenues in the federal treasury and maximize revenues to serve the public interest."
Reform Committee announces 22% growth in tax revenues, with revenues reaching 4 trillion dinars
The Supreme Committee for Implementing Tax Reform announced today, Friday, the achievement of a qualitative leap in tax revenues, recording a growth rate of 22%, with revenues reaching 4 trillion dinars during the past year, while indicating that Iraq is on the verge of ending the problem of similar names through an advanced digital system that puts an end to procedural errors.
“Tax revenues for 2024 amounted to 3.755 trillion Iraqi dinars, in a clear indication of improved tax policies, enhanced collection efficiency, and simplified administrative procedures,” said Khaled Al-Jaberi, a member of the Higher Committee for Implementing Tax Reform, in a statement to the Iraqi News Agency (INA). “These reforms contributed to reducing corruption, accelerating the completion of transactions, in addition to issuing incentive decisions, such as exempting taxpayers from fines and interest, which prompted many of them to voluntarily settle their financial dues.”
Al-Jabri pointed out that “the coming period will witness the resolution of three major problems that have long burdened taxpayers. In addition to ending the problem of similar names, a digital tax inquiry system will be adopted, allowing taxpayers to know their financial status electronically without the need to review the authority. Company data will also be made available electronically to government departments, which enhances transparency, facilitates inquiry processes, and supports the investment environment.”
Al-Jaberi pointed out that “the tax policy in Iraq faced major challenges, most notably tax evasion, which led to the budget being deprived of huge revenues, in addition to the bureaucracy that hinders the efficiency of collection.”
He pointed out that "the new reforms seek to address these problems by adopting a modern financial system that relies on automation, which reduces human intervention in assessment and collection, and limits the violations that were hindering the tax process."
Al-Jabri stressed that “these steps represent a qualitative shift in tax administration, as they contribute to building a more efficient and fair financial system, enhance trust between the state and taxpayers, and prepare the ground for broader reforms in the economic system.”
The member of the Supreme Committee for Implementing Tax Reform pointed out that “these measures reflect the beginning of a new phase, in which taxes are transformed from a burdensome burden into an organized process based on justice and technology, which contributes to achieving sustainable development and supporting the stability of the national economy.”
Al-Sudani: Iraq maintained a balanced path and prevented the spread of conflict in the region
Prime Minister Mohammed Shia al-Sudani confirmed, today, Saturday, the government's awareness of the size of the internal and external challenges, while describing October 7 as not only a field development, but also evidence of the danger of leaving loose ends.
Al-Sudani said in a speech during the Baghdad Dialogue Conference that “dialogue is an approach we adopt to address internal issues,” noting that “the government is aware of the size of the internal and external challenges.”
He stressed that "adhering to the policy of balance was a challenge and not leaning towards axes," considering that "the events of October 7 were a pivotal event on the concepts of the right to life and existence of the Palestinian people."
He pointed out that "Iraq maintained a balanced path and prevented the spread of conflict in the region."
He stressed that "through dialogue, we have completed the mission of the international coalition and moved to bilateral relations in complex political circumstances," indicating that "we succeeded in launching and encouraging dialogues, most notably between Saudi Arabia and Iran."
Nechirvan Barzani talks about a historic step: Iraq will be more prosperous
Kurdistan Region President Nechirvan Barzani stressed today, Saturday, that the path of development is a historic step towards building a more prosperous Iraq.
Barzani said in his speech during the Baghdad Dialogue Conference, “We support the development path project to strengthen Iraq as an effective state in the Middle East. We in the Kurdistan Region always believe that political and economic stability for all of Iraq is a national interest, and that true development cannot be achieved without integration between Baghdad and Erbil, as well as between Iraq and its surrounding countries in the region and the world.”
He added, "This conference emulates Iraq's vision for regional opening and integration, and the sustainability of Iraq requires cooperation and partnership, not conflict and restriction. From this standpoint, the Development Road Project comes as an initiative and a historic step to build a more stable and prosperous Iraq on diverse economic foundations, regional openness, and integration with neighboring countries.
Once again, Iraq is in the “red zone” for business and investments
Economic expert Ziad Al-Hashemi confirmed today, Saturday, that Iraq is in the “red danger” zone in terms of business and investments.
Al-Hashemi said in a post on the “X” platform, “Iraq is once again within the (red danger) zone for countries with high risk to business and investments according to the Global Risk Index for the year 2025.”
He added, "This means that Iraq is still a dangerous country that repels investments and the entry of international capital and companies due to security risks, economic and political imbalances, the spread of corruption and armed groups!"
He continued, "It is clear that the Iraqi government and its political system have failed once again to improve Iraq's economic image and remove it from the category of countries that are dangerous in terms of security and are struggling economically, contrary to official claims!"
He pointed out that "many of the government's development programmes will remain just ink on paper due to the risks and difficulty of attracting investments and convincing financiers, especially strategic projects such as the Development Road Project!"
Al-Hashemi pointed out that “the Iraqi people were hoping for an improvement in Iraq’s security and economic ranking, but it seems that the government and its political system have let them down and let themselves down again and were unable to achieve this goal and other goals!”
Opportunity or Risk? Parliamentary Oil Committee Explains the Impact of Rising Oil Prices on the Iraqi Economy
Al-Moussawi told Al-Furat News Agency that “the increase in oil prices leads to an increase in public revenues, which prompts the government to increase spending on salaries, services, infrastructure, and investment projects, which may enhance economic growth. However, she warned that this increase in spending may also lead to inflation if it is not well controlled.”
She added, "The increase in oil revenues reduces the need to impose taxes or implement economic reforms that may be unpopular, which reduces pressure on the government to diversify sources of income."
She stressed that "making the most of this opportunity requires wise financial policies that focus on diversifying the economy, enhancing investments, and reducing dependence on oil as the sole source of revenue."
Opening of the Baghdad International Dialogue Conference... with pictures
The National Iraqi News Agency documents part of the launch of the activities of the seventh edition of the Baghdad International Dialogue Conference, today, Saturday, under the slogan "Communication for Development and Regional Stability", in the presence of Prime Minister Mohammed Shia Al-Sudani, President of the Kurdistan Region Nechirvan Barzani, Representative of the Secretary-General of the United Nations Ambassador Mohammed Al-Hassan, Head of the Progress Party Mohammed Al-Halbousi, and representatives of diplomatic missions and international organizations, with the wide participation of political and academic figures and experts from around the world.
Mazhar Saleh: Iraqi banking reform needs to enhance transparency and governance
Saleh said in a statement to {Al Furat News} agency, "The operations carried out by banks operating in Iraq depend largely on the confidence of international correspondent banks in the local banking sector, which necessitates the need to provide great protection for Iraqi banks."
He pointed out that "the reform process must ensure that Iraqi banks are provided with the best transparency and governance tools, in addition to adopting the necessary applications to confront various risks and comply with international banking rules."
He added, "These measures are what everyone is looking forward to in the near future, to achieve stability and growth of the Iraqi banking sector and integrate it effectively into the international banking market."
Parliamentary Committee: Lawsuit against the Prime Minister's Office for Delaying Budget Schedules
Member of the Parliamentary Integrity Committee, Hadi Al-Salami, revealed today, Saturday, that a lawsuit has been filed against the Prime Minister's Office due to its delay in sending the budget tables, stressing that this delay is a serious legal and constitutional violation.
Al-Salami said in a statement to / Al-Maalouma / agency, “An official complaint has been filed with the Public Prosecution Service against the Council of Ministers due to its violation of Article 62, first, of the Iraqi Constitution, which obliges it to send the budget tables before the end of the fiscal year, in addition to its violation of the Financial Management Law No. 6 of 2019, Article 11, and the Triennial Budget Law 2023-2025, Article 77, second.”
He stressed that "the fiscal year ended on December 31, 2024 without the Council of Ministers committing to sending the required tables, which constitutes a clear violation of the Constitution," explaining that "the complaint with the Public Prosecution Service represents the second procedure after contacting the Speaker of Parliament, who in turn formed the Legal and Financial Advisory Committee to follow up on the case and take the necessary measures against the executive authority."
He also announced that "the Minister of Finance and the Prime Minister will soon be hosted in Parliament to question them about these violations."
It is worth noting that the House of Representatives had previously voted on the budget amendment law and sent it to the government to send the budget tables.
Government Advisor: Iraq advances 17 places in Soft Power Index
The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, announced on Saturday that Iraq has advanced 17 ranks in the Soft Power Index compared to 2023, thanks to improvements in governance and infrastructure development, stressing that this progress reflects a noticeable improvement in the stability of the country's internal situation.
Saleh said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "Iraq's occupation of the 98th position globally in the Soft Power Index for the year 2025 is an important matter in this leap during one transitional year between the end of 2023 and the end of 2024, and looking forward to 2025, as it comes 17 places ahead of its previous classification in 2023, which embodies the progress and stability witnessed by our country in a remarkable way, after it was ranked 116th globally in the year before the previous one."
He added that "Iraq has achieved acceleration in the subject of soft power during one continuous year between 2023 and the end of 2024 and moving forward to 2025, and this acceleration comes from among a set of factors and indicators of soft power that are usually used by global institutions interested in measuring the extent of the state's influence in its global scope through non-military means, such as culture, diplomacy, education, values, and innovation."
He explained that "one of the most prominent indicators used in the soft power rankings, which Iraq enjoyed in 2024, is its distinguished international reputation in the framework of foreign relations, as our country's diplomatic capabilities in influencing global affairs and its international image are at their best levels, which have increased in recent years due to the flourishing of foreign activities and the network of positive relations with other countries provided by Iraq's open democratic climate as one of the most important of these factors."
He pointed out that "political and security stability in Iraq has witnessed a significant improvement, as internal tensions and conflicts that negatively affected the country's image in the world have disappeared, which has helped enhance Iraq's soft power."
He pointed out that "the ability of the government program, which has advanced its applications in developing the infrastructure and continuous improvement in basic services, especially security and digital services, was accompanied by an advanced movement of institutional governance, as the efficiency and transparency of government institutions increased, with the approval of the 2024-2028 development plan, which committed to sustainable development and environmental protection, and providing high attractiveness for investment after announcing the principle of partnership between the state and the private sector within the philosophy of the social market, and announcing the strategic development road project as a project for Iraq's progress forward."
He added that "the high degree of interest in civilizational and cultural openness has made Baghdad the capital of tourism and culture in the world, which undoubtedly reflects the quality of life and the prevailing societal values of the civilization of the Tigris and Euphrates Valley, which dates back more than 7,000 years, in addition to the keenness to highlight the role of national heritage in general and different ethnicities in particular, which had a positive impact on the strength of societal diversity and its transition from the national level to the external level."
He added, "Diversifying the economy, sustainable development and moving away from the rentier economy remain among the challenges facing the rise of soft power. This is what the government program is working on with great care, supported by the prevailing trend in economic, social and political thought circles in Iraq on an ongoing basis through the process of national support for comprehensive economic development programs for the state and government, to build a better Iraq forever."
Parliament confirms the existence of a financial shortage in the government
The Parliamentary Finance Committee acknowledged that there is a great deal of parliamentary secrecy regarding the reasons for the delay in sending the 2025 budget tables.
Member of the Finance Committee, Sherwan Mirza, said in a press statement, "The Iraqi government is not suffering from a financial deficit, but rather from a shortage of cash liquidity," noting that "the main reason for this is that a large part of the cash mass is in the hands of citizens."
The committee member acknowledged that "there was a great deal of parliamentary and media secrecy regarding the reasons for the delay in sending the 2025 budget tables."
Pi Network Coin Starts Trading on Cryptocurrency Exchanges
Pi Network has officially launched its open mainnet, marking a significant milestone for the project after a two-year delay. The launch allows for connectivity to external blockchains, allowing transactions to take place outside of the closed Pi Network ecosystem for the first time. Additionally, Pi Coin is now listed on major cryptocurrency exchanges such as OKX, Gate.io, Bitget, and CoinDCX, allowing it to be traded and valued inThe marketOpen.
At launch, Pi Coin is trading at $1.50 on OKX and $1.90 on Bitget, but prices are still volatile as traders react to the upcoming event. With real liquidity entering the system, the Pi Network is finally on the stage.Globalfor cryptocurrencies, allowing its huge user base to enterThe marketOpen.
Could Pi Coin reach $100 or even $500?
Analysts are closely watching Pi Coin’s movements, speculating about its future price. Before launchingThe networkHome The coin has seen its price surge on expectations, with some predictions suggesting that crossing the $100 barrier could pave the way for $150, $200 or even more.
Experts believe that if Pi Coin can achieve widespread adoption and secure a listing on major platforms like Binance, it could see massive growth. While reaching $500 remains theoretical, continued demand, ease of trading on major platforms, and regulatory clarity could help drive a long-term surge in its value.
Investor Reactions: Mixed Opinions Take Over Social Media
The launch has sparked a flurry of reactions among Pi Coin holders, with reactions ranging from excitement to disappointment.
One user on X (formerly Twitter) celebrated his gains by saying, “Congratulations on launching Pi Coin! Made $7,000 for the first time!”
But not everyone was happy, with another user criticizing the launch, saying: “This is what happens when you list on small exchanges. PiCore team failed with this launch because they didn’t try to list on big exchanges and prove that it is a stablecoin and a serious project. Well, there’s not much we can do now. It’s been a beautiful dream for six years.”
What’s next for Pi Coin?
With the launchThe networkOpen Home Pi Coin has officially entered the world of cryptocurrencies. However, its future depends on widespread adoption, listing on more major platforms, and trust.The market
Despite its growing presence in the market, Pi Network has faced scrutiny over accusations that it operates as a pyramid scheme. Critics point out that its unconventional mining model, coupled with its referral-based structure, raises questions about its long-term sustainability. In
contrast, Pi Network’s appearance on exchanges coincides with its transition to aThe networkOpen Network, a crucial step towards providing broader access and increasing interest within its ecosystem. Proponents argue that the move will enhance the legitimacy and long-term sustainability of PI, making it more attractive for adoption in mainstream markets.
Whether it surges toward the $500 mark as some predict, or struggles to gain traction, the cryptocurrency world will be watching its developments closely.
Could Pi Coin reach $100 or even $500?
Analysts are closely watching Pi Coin’s movements, speculating about its future price. Before launchingThe networkHome The coin has seen its price surge on expectations, with some predictions suggesting that crossing the $100 barrier could pave the way for $150, $200 or even more.
Experts believe that if Pi Coin can achieve widespread adoption and secure a listing on major platforms like Binance, it could see massive growth. While reaching $500 remains theoretical, continued demand, ease of trading on major platforms, and regulatory clarity could help drive a long-term surge in its value.
Investor Reactions: Mixed Opinions Take Over Social Media
The launch has sparked a flurry of reactions among Pi Coin holders, with reactions ranging from excitement to disappointment.
One user on X (formerly Twitter) celebrated his gains by saying, “Congratulations on launching Pi Coin! Made $7,000 for the first time!”
But not everyone was happy, with another user criticizing the launch, saying: “This is what happens when you list on small exchanges. PiCore team failed with this launch because they didn’t try to list on big exchanges and prove that it is a stablecoin and a serious project. Well, there’s not much we can do now. It’s been a beautiful dream for six years.”
What’s next for Pi Coin?
With the launchThe networkOpen Home Pi Coin has officially entered the world of cryptocurrencies. However, its future depends on widespread adoption, listing on more major platforms, and trust.The market
Despite its growing presence in the market, Pi Network has faced scrutiny over accusations that it operates as a pyramid scheme. Critics point out that its unconventional mining model, coupled with its referral-based structure, raises questions about its long-term sustainability. In
contrast, Pi Network’s appearance on exchanges coincides with its transition to aThe networkOpen Network, a crucial step towards providing broader access and increasing interest within its ecosystem. Proponents argue that the move will enhance the legitimacy and long-term sustainability of PI, making it more attractive for adoption in mainstream markets.
Whether it surges toward the $500 mark as some predict, or struggles to gain traction, the cryptocurrency world will be watching its developments closely.
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