Al-Sudani: Iraq is witnessing a state of recovery, growth, progress, and prosperity.
Prime Minister Mohammed Shia al-Sudani affirmed on Tuesday that Iraq is witnessing a clear state of recovery, growth, progress, and prosperity, and that we are working to advance this process. He emphasized that establishing security and stability will enable the state to provide services and implement development and economic projects.
The video for this My FX Buddies Blogpost is below here:
The Prime Minister's Media Office said in a statement, seen by Al-Eqtisad News, that "Commander-in-Chief of the Armed Forces, Prime Minister Mohammed Shia al-Sudani, joined officers and fighters of the Land Forces Command for a Ramadan iftar meal."
The statement added that "al-Sudani congratulated those present on the fasting of the holy month of Ramadan, stressing that the security and stability witnessed by the country is thanks to the sacrifices of the members of the security services of all kinds. He pointed to the improvement in security indicators, in light of security and stability, and the decline in terrorist operations, attacks and even criminal crime, stressing that imposing security and stability will enable the state to provide services and implement development and economic projects."
Al-Sudani stressed - according to the statement - the necessity of securing the fighter's entitlements and rights, especially those related to providing housing, indicating that "the Ministry of Defense has made significant progress in completing the requirements for distributing residential plots, and they will soon be distributed in serviced areas among members, as a government commitment, in addition to caring for the families of martyrs and the wounded, without whose sacrifices security and stability would not have been achieved in Iraq."
The Prime Minister affirmed that "Iraq is witnessing a clear state of recovery, growth, progress and prosperity, and we are working to continue it," stressing that "we must remain prepared, alert and vigilant, and this is achieved by adhering to basic principles."
He added that "discipline, commitment, professionalism and readiness to sacrifice are military values that must be present, and leaders, officers, commanders and non-commissioned officers must instill them in their behavior towards army members." He explained, "We need continuous training and updating its curricula to raise the level and readiness of army members to face various challenges."
The Prime Minister explained that "the government has made significant strides in empowering the Iraqi army, with all its leadership, formations and types, especially in the field of armament."
He continued, "Arming the army will be done through several projects that we are working to complete, in addition to rehabilitating the infrastructure of bases and camps. It is our duty to deliver all rights stipulated by laws and decisions to the families of martyrs and the wounded."
Al-Sudani concluded his remarks by emphasizing that Iraq's path is moving in the right direction toward brotherhood, solidarity, unity, and a unified national discourse for all Iraqis.
articles from MON MAR 24 25
After a suspension of more than a month, parliament confirms that the parliament session will convene today.
We shall see
Arif al-Hamami, a member of the Coordination Framework, confirmed that the House of Representatives will hold its session today, Monday, to proceed with the reading of important laws after sessions were suspended for more than a month.
Al-Hamami told Shafaq News Agency, "The House of Representatives will successfully hold its session today, after sessions were suspended for more than a month due to disagreements over the Popular Mobilization Forces' service and retirement law. However, after the law is submitted for its first reading, the House will proceed with the session and the legislation will be expedited."
He added, "The House of Representatives will work to double its sessions over the coming period to compensate for the absence of a session during the previous period. The House will also witness accelerated activity to activate its oversight and legislative role during the coming period, especially after the Eid al-Fitr holiday."
Political positions vary regarding the inclusion of the Popular Mobilization Forces (PMF) law on the agenda of the parliament session scheduled for Monday. This move aims to end the parliament's nearly two-month hiatus from holding sessions.
The Iraqi Parliament has repeatedly failed to reach a consensus on the provisions of the Popular Mobilization Forces (PMF) law, particularly since it mandates the retirement of more than 3,500 PMF leaders, including the commission's chairman, Faleh al-Fayyadh, who are over the legal retirement age.
A source within the Coordination Framework revealed on March 11 that Prime Minister Mohammed Shia al-Sudani had withdrawn the Popular Mobilization Forces' civil service and retirement law from the Iraqi parliament to minimize political disagreement and prevent it from interfering with parliamentary sessions. The source added that the convening of parliamentary sessions was now contingent on the law being added to the parliament's agenda.
The House of Representatives is witnessing ongoing disruptions to its sessions, due to the lack of a quorum to hold them, despite the announcement of the agenda and the setting of a session date.
Baghdad is officially outside the "Axis of Resistance"...and the US wants "Zero Iran" in Iraq.
Abdul Mahdi arranges the deportation of the Houthis, and the factions remain silent.
Baghdad is working on "three lines" to avoid potential Israeli strikes, according to the Iraqi Foreign Ministry.
An Iraqi politician reveals the content of "non-negotiable" American messages sent to Baghdad, including cutting off funding to the Houthis.
Parliament is expected to begin preparations for the "dissolution of the factions" in a session on Monday, which will discuss the "restructuring of the Popular Mobilization Forces." The
"restructuring" includes a confirmation of a previous decision taken six years ago, stipulating the separation of "the Popular Mobilization Forces from any political entity," making it a more clearly state-affiliated institution.
According to information obtained by Al-Mada, it is believed that the restructuring law "would not have been discussed were it not for the recent changes that took place in the region."
The executive order issued in 2019, which would be the nucleus of the "restructuring of the Popular Mobilization Forces," was rejected by several factions.
Over the past three weeks, Shiite political parties have insisted on prioritizing the "restructuring of the Popular Mobilization Forces" over the "Popular Mobilization Service and Retirement Law."
Two weeks ago, Prime Minister Mohammed al-Sudani decided to withdraw the "service and retirement" law from parliament, instead sending a restructuring law.
Parliament published the agenda for today's session, Monday, after a work stoppage for more than a month. The agenda includes seven paragraphs, including the restructuring of the Popular Mobilization Forces (PMF), or the so-called "Popular Mobilization Forces Authority Law.
" Suspicions circulate around the PMF regarding the presence of "alien" elements, according to former Prime Minister Nouri al-Maliki.
There are also doubts about the PMF's salaries and the "number of members," according to MP Adnan al-Zurfi.
According to information, the government is trying to "control the PMF and organize it institutionally."
This information confirms that "this appears to be an attempt to block any accusations against this group (the PMF) that it is outside the law."
This movement is linked to the negotiations announced by the government more than a month ago with "three or four factions" to disarm them. The results of these negotiations have not yet been announced.
Neutrality...
In contrast, Baghdad is seeking, through the "second track," to prevent factions from interfering in the war that appears to have returned in Gaza, Yemen, and southern Lebanon.
So far, no known Iraqi faction has announced intervention in response to the new Israeli or American attacks in the region.
Three unknown Iraqi armed groups have announced targeting American interests after "strikes on the Houthis," but no incident has been recorded so far.
The appearance in Yemen of Adel Abdul Mahdi, the former prime minister known for his closeness to the Popular Mobilization Forces (PMF), is believed to be related to the "second track."
Abdul Mahdi is believed to have arrived in Yemen on March 20, while the Houthis escalated attacks on Israel on the 18th and 20th of this month.
Several reports have suggested "scenarios" for Abdul Mahdi's presence with Houthi leaders:
one related to "coordination of the unity of the arenas," a principle established by Iran in recent wars in the region;
or the possibility that Abdul Mahdi was carrying a message from the United States to Yemen regarding the situation in the Red Sea.
Or that Baghdad is working to "expel the Houthis" from the country, which is the most widely circulated scenario domestically.
This development coincided with news of the "closure of a Houthi headquarters" in Baghdad, which had been revealed a year earlier.
On March 20, Iraq's Joint Operations Command denied reports that the Houthis were using a training camp in Iraq.
Reports indicated that the Houthis were using a training camp in the Khalis district of Diyala Governorate to receive training and support there.
Washington began a military escalation against the Houthis on March 15.
On June 13 of last year, Abdul-Malik al-Houthi, the leader of the Ansar Allah group (also known as the Houthis), announced that they were working with the "Islamic Resistance in Iraq" to launch attacks against Israel from the Golan Heights.
That same year, local media reported that the Houthi group had opened a "representation" in Baghdad, days after the group's representative in Iraq, Abu Idris al-Sharafi, who has resided in Iraq since 2016, visited Hashd sites.
"We are not an axis of resistance."
On the third track, Baghdad is trying to convince the United States that it is not part of the "axis of resistance," according to Foreign Minister Fuad Hussein.
In a television interview, Hussein stressed that "Iraq does not accept 'unity of arenas,' and its constitution prohibits waging war against anyone by unilateral decision."
Hussein attacked Iraqi armed factions, saying that "what they have done for months has greatly harmed Iraq and has not benefited the Palestinian cause."
Unusually, neither the factions nor political forces close to those groups have commented on Hussein's recent statements.
According to the minister, "there is an opportunity to reach an understanding with the armed factions to spare them and Iraq the risks that could result from a military strike by external parties, such as America or Israel.
" Hussein warned that "Iran could be the target of an Israeli attack if it fails to reach an agreement with the new US administration." He said, "This means that disaster will befall Iraq and the region."
Tehran has so far rejected US messages to engage in "negotiations" on the nuclear issue.
Politician and former MP Mithal Alusi says that "the political forces in Iraq are unaware of the coming danger, and may be playing the roles drawn for them by Iran."
Washington's Messages
In an interview with Al-Mada, Al-Alusi criticized Baghdad's negotiating role with the United States, revealing the "existence of mediators" close to the ruling parties, separate from the "Ministry of Foreign Affairs.
" Al-Alusi asserted that the "mediators," who, according to the former MP, are advisors, received decisive messages from Washington, stating:
1 - Zero Dollar: No dollars are allowed to flow to Iran, regardless of the pretext, cover, or means.
2 - Zero Oil: No Iraqi oil is allowed to flow to Iran, and no Iranian oil is allowed to be exported in Iraq's name or mixed with Iraqi oil and marketed in the Gulf or anywhere else.
3 - Iraq will never fund, deal with, train, or shelter Hezbollah, Hamas, or the Houthis.
Al-Alusi asserted that the United States informed the Iraqi government that "$3.4 billion" is being transferred annually to Iran via funds allocated to the Popular Mobilization Forces, and this must be stopped.
The former MP points out that the United States considers the Popular Mobilization Forces (PMF) to be affiliated with Iran, and that "Washington does not use the term 'factions'."
Al-Alusi questioned the Coordination Framework's ability to maneuver and remain in the political equation until the next elections, stressing that "there is no room for maneuver with Trump as there was under the previous administration (Joe Biden)."
The former MP warned of a "great danger" threatening Iraq, as "Trump treats Iraq as a peripheral state implementing Iran's will."
Iraq ranks sixth in the Arab world and 68th globally in the Purchasing Power Index.
Numbeo, a website specializing in the living standards of countries around the world, ranked Iraq sixth in the Arab world and 68th globally in the 2025 Purchasing Power Index.
The website stated in its latest report, reviewed by Shafaq News Agency, that Iraq scored 54.5% on the index, out of a list of 139 countries.
Globally, Qatar topped the rankings with a score of 177.9%, followed by Luxembourg with 177.1%, Kuwait with 174%, Switzerland with 159%, Oman with 152%, the United States of America with 146.7%, and Saudi Arabia with 146.1%.
The report also indicated that Guernsey ranked eighth with a score of 136%, followed by Australia in ninth place with 135%, and Denmark in tenth place with 133%.
In the Arab world, Qatar topped the list, followed by Kuwait, Oman in third place, Saudi Arabia in fourth place, and Bahrain in fifth place. Iraq came in sixth place, followed by Jordan, Libya, Morocco, and Lebanon in tenth place.
At the bottom of the global rankings, Cuba, Syria, and Cameroon, respectively, were among the lowest in the purchasing power index.
An international system tracks financial activity in six branches of Rafidain Bank.
Rafidain Bank has begun implementing a modern financial monitoring system in six of its branches, in compliance with international standards to prevent money laundering and terrorist financing.
A banking consultant says the first phase of this step will last three months under the supervision of two foreign companies to compare figures.
A statement from Rafidain Bank detailed the aforementioned system for monitoring daily financial transactions, known as AML.
The six branches in which the monitoring system has been implemented are located in Baghdad and Basra governorates.
Banking consultant Hafidar Shaaban told Rudaw Media Network that "the system is being implemented in three phases. The first phase began on March 15 and will continue until June 15. It is being implemented by Ernst & Young and K2 Lee."
Ernst & Young and K2 Lee are financial auditing firms that monitor financial and monetary transactions in Iraq.
Rafidain Bank indicated in its statement that this step comes within the framework of its commitment to international standards for preventing money laundering and terrorist financing, and is one of the basic requirements for raising the level of confidence in the Iraqi banking sector regionally and internationally.
This new control system can analyze and identify financial movements, plays a role in detecting suspicious activities, and will have an impact in reducing the risks associated with financial crimes.
It is worth noting that Rafidain Bank is an official bank affiliated with the Federal Ministry of Finance. In its statement, it stated that it will activate the AML control system installation procedure in all its branches.
On February 4, 2025, Rafidain Bank directed its branches to prepare for 18 potential money laundering scenarios to identify suspicious financial activities.
2025 Budget: Controversy over Jobs and Delays Confuse Accounting
MP Aref Al-Hamami confirmed, on Monday (March 24, 2025), that the controversy over the presence of jobs in the 2025 budget tables is ongoing, pointing to the repercussions of the government's delay in sending these tables.
Al-Hammami told Baghdad Today, "It is not possible to confirm the presence of jobs or the imposition of new taxes in the 2025 budget schedules, but according to previous government statements, there are no jobs. However, through communication with the Prime Minister during our repeated meetings, it was emphasized that some delayed contracts in the schedules must be settled, and there was more than one meeting in this regard."
He added, "The government's delay in submitting the 2025 budget schedules has multiple repercussions for government agencies, including financial matters, transportation, and all other obligations. Therefore, the government bears responsibility for this matter."
Al-Hamami explained, "There may be reasons behind the delay in sending the schedules, but we hope the matter will be resolved in the coming days by sending the schedules for further discussion and review, followed by voting on them, especially since these schedules are of great importance in resolving many financial entitlements."
Al-Hamami continued, "Once the tables are in place, the picture will become clearer. Therefore, it is not possible to determine at this time whether there will be jobs or new taxes." He emphasized, "We are seeking to conduct in-depth discussions, and thus, we may add some points without affecting the overall formula for deliberation, especially since it relies on financial paths that require adherence."
In the same context, economic expert Nabil Al-Marsoumi set Wednesday (March 19, 2025) as the date for the 2025 budget tables to reach Parliament, indicating that these tables are likely to arrive next April.
In a Facebook post, followed by Baghdad Today, Al-Marsoumi confirmed that the budget will include new indirect taxes, increases to existing taxes, and increases in rental allowances for state-owned properties.
Al-Marsoumi indicated that "Parliament will certainly ratify these schedules next May, following a meeting of the leaders of the political blocs."
In a previous statement, the Prime Minister's financial advisor, Mazhar Mohammed Saleh, announced that the 2025 budget schedules will be submitted to the House of Representatives in the coming days. He added that the total budget will reach 200 trillion dinars, with two-thirds of the budget allocated to employee and pensioner salaries, social welfare, and operating wages.
Saleh revealed that the hypothetical budget deficit would reach 64 trillion dinars, to be financed from domestic sources if oil prices fall below $70 per barrel or exports fall below 3.4 million barrels per day.
Parliamentary Gas Committee: Negotiations with Washington to secure exemptions for importing Iranian gas
Parliamentary Electricity and Energy Committee member Suhaila Sultani revealed on Monday new negotiations with Washington and other countries to secure exemptions for importing Iranian gas.
Al-Sultani told Al-Maalouma News Agency that "the government is working on several solutions to address the gas crisis, most notably the establishment of a gas platform in the Arabian Gulf to import Qatari and international gas. Operations are expected to begin within the next two or three months."
She pointed out that "a contract was signed to build a waste-to-energy power plant in Nahrawan, which will provide 100 megawatts, considering this project a positive step in the right direction."
She added, “There are ongoing negotiations with the US and other countries to obtain exemptions related to importing Iranian gas, in addition to advanced negotiations with Turkmenistan to import gas through Iranian territory.”
She stressed that "the Iraqi government and the Ministry of Electricity are taking numerous steps and projects to reduce the expected electricity deficit in light of the US decision to exempt Iraq from importing Iranian gas."
Look: UAE issues new polymer Dh100 banknote, in circulation from today
The new currency features the Etihad Rail, the Um Al Quwain National Fort and the Port of Fujairah
The Central Bank of the UAE (CBUAE) has launched a new Dh100 banknote. The currency note is made of polymer and features innovative designs and advanced security features.
The new banknote will be circulated with the existing Dh100 note starting today, March 24. All banks and exchange houses have been instructed to programme their cash deposit machines and counting devices to ensure seamless acceptance of the new notes alongside existing paper and polymer ones, the value of which is guaranteed by law.
The new banknote's design is distinctive, employing various shades of red. The CBUAE maintained the colour characteristics of the current denomination. Furthermore, the design incorporates the UAE nation brand, with drawings and inscriptions created using advanced printing techniques.
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Oil exploration: We possess modern technologies that rival international companies.
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The Oil Exploration Company announced on Tuesday that it possesses modern global technology comparable to that of international companies. It also indicated a five-year plan for exploration and determining the size of oil reserves.
"The Oil Exploration Company is the only company in Iraq that explores oil and gas sites across Iraq, from north to south," said Osama Raouf, the company's general manager, in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News." He explained that "the size of Iraqi explorations in relation to reserves is measured through a five-year plan and an annual plan, whereby plans are measured in relation to the size of reserves existing in Iraq. The larger the exploration plan
, the greater the percentage of reserves in Iraq."
He added that "the percentage of reserves is primarily due to exploratory drilling operations. The more exploratory drilling sites there are, the greater the reserves in Iraq." He explained that "reserves in Iraq are due to increased exploratory drilling and the discovery of new reservoirs, both visible and invisible, that were not previously explored and were recently explored."
He continued, "The Oil Exploration Company possesses modern global technology that matches the technologies found in international companies," stressing that "the company relies primarily on 100 percent national cadres. We do not have experts, but we have global technologies that match the technologies of international exploration companies."
To discuss investment opportunities... a US delegation will visit Iraq soon.
The Prime Minister's Advisor for Foreign Relations, Farhad Alaa Al-Din, confirmed on Tuesday that Iraq's economic development has attracted major American investments. He also indicated that a high-level US delegation is expected to visit Iraq to study investment opportunities. He also indicated that there is an Iraqi-American partnership in combating terrorism and regional coordination.
Alaa Al-Din said, according to the official agency, that "the relationship between Iraq and the United States is a strategic relationship based on common interests and mutual respect, and is based on the strategic framework agreement signed between the two countries."
He explained that "the two sides are currently working on developing a roadmap aimed at expanding and deepening this relationship, including enhancing cooperation in several areas such as investment, infrastructure development in the energy, technology, and agriculture sectors, as well as continuing the partnership in combating terrorism and coordinating on regional and international issues of mutual interest."
He pointed out that "Iraq is currently witnessing remarkable economic development, which provides promising opportunities in various vital sectors. The United States is also showing increasing interest in these opportunities, as there is ongoing communication with a number of major American companies that have expressed their desire to enter the Iraqi market, especially in light of the government directives of the Prime Minister and the efforts made to facilitate the business environment and provide guarantees and incentives to foreign investors."
He added, "Iraq will soon receive a high-level delegation including representatives from major American companies to discuss investment opportunities and gain insight into the new, stable reality in Iraq, in addition to holding meetings with government officials and local companies."
Regarding the Prime Minister's official visits to friendly and partner countries, Alaa El-Din emphasized that "each visit is organized according to a work schedule and program that serves the common interests of both countries."
He announced an "upcoming visit to a regional country, followed by ongoing preparations for the Arab Summit, which will be held at a sensitive time amid the security and political challenges and unrest in the region.
In its relationship with Tehran, Washington withdraws its mediation role from Baghdad and turns to the Gulf as an alternative.
Political science professor Khalifa Al-Tamimi explained, on Tuesday (March 25, 2025), that the United States changed the course of conveying its messages to Iran away from Iraq, due to Baghdad being accused of siding with Tehran and its involvement in economic relations and factions supported by Iran.
Al-Tamimi told Baghdad Today, "The United States had made direct accusations against Baghdad regarding Iran's significant influence on Iraqi politics, believing that Iran was developing plans in the region through Iraq."
He added, "This prompted America to look for other countries to serve as a compass for conveying its messages to Tehran, especially given Iran's loss of several key axes in the region, such as Syria, Lebanon, and Gaza. This has impacted its role in those axes following direct operations by the occupying entity."
Al-Tamimi pointed out that "the United States has come to believe that it is impossible to achieve its goals through Iraq, now that Iraq is accused of bias toward Iran, which has prompted a change in the American strategy."
He explained that "the US sees the need for Iraq to abandon some of its ties with Tehran, including economic ties and the issue of Iranian-backed armed factions, which prompted the White House to change its position on conveying messages through Iraq."
He pointed out that "the United States has begun to prefer relying on Gulf states with ties and interests in Iran to convey its messages, as part of strengthening the influence of America's allies in the region."
Al-Tamimi asserted that "the change in the direction of conveying American messages to the Gulf states is due to three main reasons: Iraq's bias toward Iran, Iraq's presence as part of the problem with Tehran, and the lack of sufficient openness toward Baghdad on certain issues, which makes the shift to the Gulf states in line with the United States' strategic interests."
Yesterday, Monday (March 24, 2025), Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, discussed with Iranian Foreign Minister Abbas Araqchi the latest developments in Gaza and Lebanon, while reviewing the content of the US President's letter addressed to the Iranian government.
A statement from the Ministry of Foreign Affairs received by Baghdad Today stated that "Deputy Prime Minister and Minister of Foreign Affairs, Fuad Hussein, received a phone call from the Minister of Foreign Affairs of the Islamic Republic of Iran, Abbas Araqchi. The two sides discussed the latest developments in Gaza and Lebanon against the backdrop of the Zionist entity's violation of the ceasefire, in addition to the US attacks on Yemen."
He added, "The Iranian Foreign Minister expressed his concern about these developments," noting that "Minister Fuad Hussein was briefed on the content of US President Donald Trump's letter to the Iranian leadership, represented by Supreme Leader Ali Khamenei, stressing that the Iranian government will respond to the letter."
Iranian tankers used forged Iraqi documents." What are the legal and economic implications of the Oil Minister's statement?
Iran attacks Abdul Ghani, while experts fear "sanctions."
Iraqi Oil Minister Hayan Abdul Ghani revealed shocking information, stating that "Iranian oil tankers seized by US forces in the Arabian Gulf used forged Iraqi documents." The revelations raised questions about the possibility of Iraq facing international legal action over the matter.
Abdul Ghani was asked whether he had received messages from the US regarding the possibility of imposing sanctions on the state-owned oil marketing company SOMO for violating sanctions imposed on Iran. He replied, "We received some verbal inquiries about oil tankers that were seized in the Gulf by US naval forces and were carrying Iraqi shipping manifests," adding, "It turned out that these tankers were Iranian, belonging to the Islamic Republic of Iran, and were using forged Iraqi documents."
Experts commented on the legal and economic implications of the matter. International law expert Habib Al-Quraishi noted that "Iraq was the one who reported and disclosed this matter, and legal action was taken against it. This exempts Iraq from any legal or financial penalties, as it is not a partner in such fraudulent and manipulative operations."
Al-Quraishi told Al-Jabal, "Iraq is the one that reported the smuggling of Iraqi oil, and thus the Ministry of Oil has fulfilled its role in monitoring Iraqi oil shipments. Therefore, we cannot talk about sanctions against SOMO for identifying its relationship with these smuggled shipments. Here, Iraq's legal position is very sound."
Meanwhile, international economics professor Nawar Al-Saadi told Al-Jabal, "Iraq has taken a positive stance by revealing the manipulation itself and informing the US side that these documents are forged and that the country has nothing to do with them. This step reflects the Iraqi government's commitment to transparency and avoiding any potential legal or economic repercussions, especially as Iraq is working hard to maintain its economic stability and strengthen its position as a major player in the global energy market. However, it is undeniable that such incidents may raise concerns among investors and international partners, especially if strict measures are not taken to ensure that they do not recur in the future."
Regarding the imposition of sanctions on Iraqi oil or on the State Oil Marketing Organization (SOMO), Al-Saadi pointed out that "if this happens, the consequences will be very dire, as the Iraqi state depends almost entirely on oil revenues to finance its general budget. Any disruption to Iraqi oil sales as a result of sanctions will lead to a severe shortage in revenues, which could be reflected in government spending and lead to an increase in the financial deficit. Imposing restrictions on SOMO will also complicate export operations, especially since Iraq relies primarily on international banking transactions to clear payments and transfer oil revenues."
Moreover, if sanctions are imposed, they will not only affect the oil sector, but will also "cause a shock to the Iraqi financial market, as the value of the Iraqi dinar is likely to decline due to the decline in dollar inflows. This will lead to higher prices and higher inflation rates, weakening citizens' purchasing power and increasing economic pressures on the Iraqi government, which is already facing challenges related to economic reform and reducing its overreliance on oil," according to Al-Saadi.
The professor of international economics concluded by saying, "This is why Iraq's official position on this issue must be clear and strong, not only by exposing the manipulation, but also by strengthening oversight procedures and taking additional measures to prevent any illicit use of Iraqi documents in the oil trade. Iraq must prove to the international community that it is capable of protecting its economic interests and preventing any party from using its name or resources in operations that could jeopardize its economy."
Iran's Deputy Oil Minister for International Affairs, Ali Mohammad Mousavi, responded to the Iraqi oil minister's statements, describing them as "false allegations."
"The statements made by Iraqi Oil Minister Hayan Abdul Ghani were published incompletely, and he made these allegations based on the US authorities," Mousavi said.
The Iranian official asserted that these "American allegations are part of an illegal and unjustified policy of leveling false accusations and exerting pressure on the Iranian people," adding, "They are baseless and lack credibility."
Reuters previously reported on "a complex fuel smuggling network that has flourished in Iraq in recent years, including through the use of forged documents," with some experts believing it "generates at least $1 billion annually for Iran and its proxies."
MP Adnan al-Zurfi spoke in televised statements over the past few days about "major problems facing SOMO in exporting and smuggling oil," indicating that " American advice to Iraq is to lift interference in SOMO, the Central Bank, and combating terrorism."
Expert: Lack of liquidity and revenues prompts the Ministry of Finance to issue bonds to local banks.
Worth 3 trillion
On Monday, March 24, 2025, economic expert Nabil Al-Marsoumi spoke about the Ministry of Finance's efforts to issue bonds allocated to local banks worth 3 trillion dinars, due to "a liquidity shortage and falling oil prices."
Al-Marsoumi said in a tweet followed by Al-Jabal that "due to the liquidity shortage linked to the decline in oil prices and oil revenues, the Ministry of Finance will issue national bonds exclusively for local banks, with a value of 3 trillion dinars in two tranches."
He added, "The first tranche will be worth 500,000 dinars per bond, with an 8% interest rate and a two-year maturity, and the second tranche will be worth one million dinars, with an 10% interest rate and a four-year maturity."
Al-Marsoumi pointed out that "the value of government bonds at the end of 2024 amounted to 9.8 trillion dinars."
The House of Representatives completes the first reading of the draft law on the Popular Mobilization Forces
On Monday, the House of Representatives completed the first reading of the Popular Mobilization Forces Law.
Al-Maalouma correspondent said, “The House of Representatives held its session, chaired by Mahmoud Al-Mashhadani, with 170 representatives in attendance, to vote on the items on the agenda.”
He added, "The Council has completed the first reading of the draft law of the Popular Mobilization Authority."
He stated that "Parliament completed the first reading of the cancellation of the rating of the agreement exempting holders of diplomatic and service passports from entry visas between Iraq and Cyprus."
To provide alternatives to Iranian gas, Iraq is moving toward importing gas from Qatar, Indonesia, Algeria, and Brazil.
The Prime Minister's Advisor for Electricity Affairs, Adel Karim, confirmed on Tuesday that the Iraqi government is continuing its efforts to ensure stable energy supply, noting that there is a plan to supply gas via a floating platform from four countries.
"The situation is currently good, and we have taken several measures," Karim said, according to the official agency. "Prime Minister Mohammed Shia al-Sudani has directed the import of diesel from neighboring countries and the completion of the floating platform in Khor al-Zubair. Iraq is working to provide alternatives to gas from several countries, including Qatar, Algeria, Indonesia, and Brazil, in addition to other countries within the global market."
He explained that "the volume of imports via the floating platform will reach 400 cubic meters per day, equivalent to a production capacity ranging between 1,500 and 2,000 megawatts of electricity."
Regarding gas self-sufficiency plans, the advisor noted that "the government has made progress on associated gas investment projects and gas fields, and Iraq is expected to begin receiving significant quantities of domestic production between 2026 and 2029, which will help reduce reliance on imports."
Regarding current energy needs, he explained that "the government has referred a number of major power plant projects for implementation, with a production capacity of up to 35 megawatts, which will help reduce the deficit in the coming years."
Regarding the upcoming summer, the advisor pointed out that "there are two major problems: the first is the availability of fuel for power plants, which the government is working to address, and the second is the growing demand for energy due to population expansion and increased consumption." He emphasized that "efforts are continuing to ensure the stability of the electrical system in all governorates."
Oil revenues and economic diversification
The Iraqi economy is characterized as a rentier economy, as it relies on oil to finance the general budget and the gross domestic product as well, as it is the source of foreign currency. Therefore, the Iraqi economy is vulnerable to the risk of fluctuations in global oil prices. Therefore, the reality of the situation requires diversifying the Iraqi economy's resources in addition to oil, to ensure that it is a flexible economy capable of confronting any shocks that it may be exposed to. This should be done gradually until other sectors are replaced, to contribute to financing the country's general budget and increasing the gross domestic product.
There are several challenges facing economic diversification, including corruption. Corruption is the biggest obstacle to economic diversification, as it leads to waste and inefficient allocation of resources. Furthermore, dependence on oil makes it difficult to change the economic mindset and move into new sectors. Furthermore, fluctuations in oil prices affect the ability to plan for long-term investment.
The Iraqi economy faced significant challenges in 2014 due to the growing influence of extremist groups (such as ISIS), which coincided with a global decline in oil prices, which impacted the country's economic stability. In 2020, economic conditions worsened due to the COVID-19 pandemic, in addition to the ongoing fluctuations in oil prices.
The issue of leveraging oil revenues to diversify the economy is a pivotal issue for many oil-producing countries, including Iraq. Although oil is a major source of income, over-reliance on it makes the economy vulnerable to fluctuations in global markets. There are some proposed strategies for leveraging oil revenues to diversify the economy. The Iraqi government could make a political decision to transfer a portion of oil revenues to a sovereign fund. This decision requires support from all political parties to achieve national consensus on the importance of this fund. This will enhance national sovereignty, reduce the impact of external pressures, strengthen political decision-making, and reduce reliance on debt or international aid. This will contribute to giving the government greater freedom to formulate its policy.
The fund can be invested in long-term projects. It must diversify its investments, such as real estate, stocks, bonds, and development and production projects. Investments are not limited to traditional financial assets, thus contributing to the diversification of the country's economy.
In addition, the Fund's funds can be used to invest in infrastructure, such as water and electricity networks, roads, ports, airports, and communications in deprived or conflict-affected areas. This reduces political tensions, creates an attractive environment for private investment, and contributes to improving the local economy.
Oil currently accounts for more than 90% of Iraq’s general budget revenues, so it is necessary to support non-oil sectors so that they can also contribute to the general budget to achieve flexibility and stability. This can be done by providing incentives for investments supported by the sovereign fund (whether financial or tax incentives) in non-oil sectors, such as agriculture, industry and tourism, and providing the necessary financing for small and medium-sized companies, as these companies play an important role in diversifying the economy and creating job opportunities. It is also necessary to establish a strict financial policy to ensure the financial sustainability of the fund. in the long run.
Economists: Savings threaten financing development projects
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Despite the country's technological advancements and stability, the phenomenon of household savings is on the rise, with citizens avoiding banking, posing a new challenge to the national economy. This phenomenon, which experts believe results from a lack of trust in banks, is leading to a significant withdrawal of liquidity from the economic cycle, hindering investment and weakening the role of banks in financing development projects.
A big challenge
Manar Al-Obaidi, head of the Iraq Future Foundation for Economic Studies, points out that the decline in bank savings represents a major challenge for the Iraqi economy, as it reduces the resources available for lending, weakening banks' ability to finance investment projects. This funding shortfall could lead to a slowdown in economic growth.
Speaking to Al Sabah, he added that many productive sectors rely on loans to finance their expansion and improve productivity. With citizens reluctant to save in banks, companies may resort to alternative financing sources that are often more expensive or less stable, increasing the risk of financial distress and negatively impacting market stability.
Al-Obaidi believes that the relevant authorities are required to take serious steps to enhance citizens' confidence in banks. Among the most important of these measures is ensuring deposits by establishing or strengthening systems that protect depositors' funds in the event of bank failure, thus increasing citizens' financial security. He also believes that enhancing transparency is required by requiring banks to provide clear and transparent information about their products and services, including fees, interest rates, and potential risks, to enable customers to make informed financial decisions. He also believes that strengthening governance standards is required by imposing strict oversight on banks to ensure effective and fair management and reduce financial and administrative risks that could affect depositors' funds.
Attracting savings
To overcome this crisis, Al-Obaidi stressed the need for banks to take practical steps to attract savings and increase deposits. These steps include providing savings incentives such as raising interest rates on deposits, encouraging savers through rewards programs and attractive offers, and developing electronic services by improving the infrastructure of digital banking services to facilitate deposits, withdrawals, and transfers, making dealing with banks easier and more convenient. Banks should also expand the network of branches and ATMs to ensure banking services reach larger segments of the population, especially in remote and rural areas, and improve customer service by training employees to provide fast and efficient banking services, which enhances customer satisfaction and encourages them to continue dealing with banks.
Prime Minister Mohammed Shia al-Sudani stressed the importance of banking reform in enhancing citizen confidence and cooperation with local and foreign investors, emphasizing the need to work to provide a bank with specifications and standards that can overcome problems and restore confidence to citizens, in addition to enhancing cooperation with investors. Locals and foreigners.
quick profitability
For his part, economic expert Dr. Duraid Al-Anzi explained to Al-Sabah that Iraqi banks focus primarily on achieving rapid profitability without providing genuine banking services. This is due to the lack of economic activities that support a strong banking system.
He added that most banking services are now limited to deposits, withdrawals, issuance of sukuk, commercial accounts and current exchange accounts, while investment and financing services aimed at development are witnessing... Almost complete absence.
Al-Anzi believes that one of the most significant problems that undermine citizens' confidence in banks is their volatile policies. Sudden devaluations and increases in the dollar's exchange rate cause savers to lose a portion of their deposits, which can reach 20% in some cases. This is in addition to the weak liquidity, widespread financial smuggling, and the black market's control over the exchange rate. Furthermore, the absence of a bankruptcy system and the lack of transparency and clear regulatory procedures drives citizens to avoid dealing with banks and resort to saving at home.
Al-Anzi emphasized that reforming the banking system has become an urgent necessity to make it a safe and profitable means for citizens, which will contribute to stimulating the economy and enhancing trust among all parties. He explained that the required reforms include ensuring the protection of deposits by enacting laws that require banks to insure depositors' funds, especially during financial crises, and enhancing trust between the government and banks by establishing stable monetary policies. He also emphasized spreading banking culture by educating citizens about the importance of dealing with banks and providing advanced digital facilities that make banking transactions smoother and safer, which will enhance the use of the banking system and limit the phenomenon of savings outside of formal financial institutions.
It's worth noting that the Minister of Construction, Housing, Municipalities and Public Works, Benkin Rekani, stressed the need to move to a new phase in managing the country's economy, and to move away from the policy of a rentier economy based solely on oil revenues. He warned that infrastructure projects would be halted if the tax system was not activated. Rekani also revealed that approximately 80 trillion dinars are stored in citizens' homes, ineffective in the country's economic cycle.
Boost confidence
Economist Dr. Ikram Abdel Aziz points to trust issues between banks, the Central Bank, and the government, emphasizing the need to improve cooperation and integration among these parties to ensure the stability of the banking system.
Speaking to Al Sabah, Abdelaziz believes that the expansion of bank branches, modernization of technology, and improved transparency will all contribute to strengthening this trust between citizens and financial institutions.
She explains that hoarding large sums of cash at home stems from citizens' concerns about the security and political situation, as well as their lack of confidence in banks' ability to protect their money from inflation or sudden decisions. This poses a major challenge to the economy. She believes that attracting this money into the economic cycle requires banks to provide incentives and facilities, such as raising interest rates, providing real guarantees to protect depositors, and avoiding corruption, which undermines citizens' confidence in the banking system.
To enhance citizens' confidence in banks, whether government or private, Abdel Aziz stresses the need to employ economic media to present financial and banking developments in a professional manner and in a language understandable to everyone, whether specialists or the general public. She also emphasizes the importance of simplifying banking procedures, facilitating account opening, and improving customer service to ensure that customers' time and effort are respected. She adds that providing advanced banking services, such as reducing fees, increasing awareness of the importance of saving, promoting the transition to digital transactions instead of paper cash, and explaining the benefits of saving and ways to invest it to achieve profitable returns, are all essential factors for rebuilding confidence in the banking system and motivating citizens to deposit their money in banks instead of keeping it at home.
Parliament's Finance Committee rules out sending budget tables within two months. This is its value.
Parliamentary warning of the repercussions of delaying non-oil revenues on the Iraqi economy.
The Parliamentary Economic Committee called on all ministries to expedite the payment of their non-oil revenues to the Ministry of Finance, while warning of the repercussions of continued delays on the national economy and the financial pressures that could affect the implementation of development plans.
Yasser Al-Hussaini, a member of the Economic Committee, said in an interview: "The Ministry of Finance is making exceptional efforts to ensure cash liquidity, but it faces challenges due to the delay of some ministries in transferring their non-oil revenues, which leads to confusion in government spending plans." He pointed out that "these revenues constitute an important source for strengthening the general budget and reducing dependence on oil revenues, especially in light of global market fluctuations."
Al-Hussaini added that "the resumption of government projects, whether investment or service, is directly linked to the availability of financial liquidity, which makes commitment to paying dues essential to ensure the continuity of work in various sectors." He explained that "providing liquidity is not the responsibility of the Ministry of Finance alone, but rather an integrated process that requires the commitment of all government agencies to transfer their non-oil resources according to the specified deadlines."
Al-Husseini pointed out that "cooperation between ministries on this issue contributes to reducing financial pressures and ensures the implementation of vital projects needed by citizens."
He explained that "the government, through the Ministry of Finance, is working to take measures to facilitate the activation of non-oil revenues, including enhancing transparency in the management of public funds and monitoring non-compliant entities, with the aim of achieving the required financial balance." He stressed that "the current phase requires everyone's cooperation to ensure economic stability, especially with the challenges facing global markets and their impact on the local economy."
Al-Husseini concluded his remarks by saying: "We call on all ministries and government institutions to commit to transferring financial dues according to the specified timetables, as this has a positive impact on the national economy and to ensure the continuity of services and projects that benefit citizens."
Between support and rejection: Washington strengthens the Iraqi army and "ignores" the Popular Mobilization Forces.
Security and political expert Firas Al-Najmawi confirmed on Tuesday (March 25, 2025) that the United States supports strengthening the combat capabilities of official Iraqi forces, but refuses to provide the same support to the Popular Mobilization Forces.
Al-Najmawi explained in an interview with Baghdad Today that "despite the Popular Mobilization Forces' acquisition of combat experience during their battles against ISIS, they do not undergo the same military training programs as the army, police, and counter-terrorism forces."
He pointed out that "Washington continues to train and equip official Iraqi forces, but refrains from doing so with regard to the Popular Mobilization Forces, considering them to be under the command of armed factions with foreign agendas."
He added, "The Counter-Terrorism Service enjoys significant US attention, both financially and militarily, given that it is an official Iraqi force independent of any political or foreign interference. This makes it a key focus of support and development plans for the next phase."
The United States played a major role in building the capabilities of Iraqi forces after 2003, through various training and armament programs, particularly for the Iraqi army and the Counter-Terrorism Service, which is considered one of the most efficient formations in the country.
However, the relationship between Washington and the armed factions, including some components of the Popular Mobilization Forces, has been tense due to some of them being linked to Iran and its regional agendas.
The Popular Mobilization Forces (PMF), founded in 2014 to fight ISIS, comprises groups with diverse loyalties, some linked to the Iraqi government, others close to Tehran. This disparity in structure and political allegiance has made it a source of controversy internally and externally, as the United States refuses to support it militarily, unlike official state institutions.
Source: Iran-US negotiations to be held in the UAE after Nowruz holiday
A media activist close to Iranian political officials revealed on Tuesday (March 25, 2025) that "the indirect negotiations between Tehran and Washington will turn into direct negotiations in the coming days in Abu Dhabi."
The informed media source added, speaking to Baghdad Today, that "negotiations will resume in Abu Dhabi, and this is a step toward achieving further calm."
He also explained that Iranian and US representatives will hold meetings at the UAE Foreign Ministry in Abu Dhabi after the Nowruz holiday in Iran, which ends in 10 days.
In a related context, Hamid Abutalebi, deputy director of former Iranian President Hassan Rouhani's office, noted a new direction in the relationship between Iran and the United States, noting that statements by officials on both sides reflect an approach based on dialogue and negotiation to resolve differences.
Abu Talbi added that the current phase requires continued multilateral contacts, both overt and covert, and a move toward "direct and comprehensive negotiations" to reach sustainable solutions between the two sides.
For his part, Iranian journalist Ali Qalhaki revealed a different account of the secret message sent by US President Donald Trump to Iranian Supreme Leader Ali Khamenei, noting that the allegations published by Abdulkhaleq Abdullah, an advisor to the Crown Prince of the UAE, contained inaccurate information.
According to Qalhaki, Trump's message did not address regional issues, as the Emirati official claimed, but rather focused primarily on the Iranian nuclear issue. He also emphasized that the claim of a "broad military option" is unrealistic given its grave consequences for the United States itself.
Qalhaki pointed out that these allegations raise questions about the UAE's role in fueling US and Israeli pressure on Iran, rather than pursuing a responsible policy toward regional security.
Iraq enhances investment environment with administrative and tax facilities for investors.
The National Investment Commission announced new measures on Tuesday to attract foreign investors and stimulate the economy, noting that Iraq ranked fourth among the best emerging markets in 2024.
Hanan Jassim, spokesperson for the National Investment Commission, said in a statement reported by the official news agency and seen by Al-Eqtisad News, "Iraq possesses significant investment opportunities in several vital sectors, benefiting from its natural resources, strategic geographic location, and development needs."
She pointed out that "the most prominent investment sectors in Iraq
1. Oil and Gas Sector: Includes developing oil fields, investing in refineries and refining projects, and promoting natural gas projects.
2. Renewable energy: includes solar energy projects, wind energy, and energy efficiency improvements.
3. Housing and infrastructure: This includes the construction of residential cities, the development of roads and bridges, and investment in water and sanitation.
4. Agricultural and food industries sector: Focuses on land reclamation, food processing, and agricultural technology.
5. Industry and manufacturing: This includes developing industrial zones, establishing petrochemical plants, and promoting local production.
6. Health and Medicines: Includes building hospitals, developing pharmaceutical industries, and promoting digital medicine.
7. Communications and Information Technology: Includes fiber optic projects, digital services development, and investment in financial technology.
8. Tourism and Hospitality: This includes developing religious tourism, investing in hotels, and rehabilitating archaeological sites.
9. Transportation and logistics: This includes the development of ports and airports, the railway network, and the establishment of free zones.
10. Financial and banking sector: Focuses on modernizing banking systems, attracting investments, and enhancing financial inclusion.
She added, "The most prominent investment opportunities are distributed in energy, infrastructure, agriculture, industry, and information technology. With the improvement of the investment environment and the implementation of economic reforms, Iraq could become a major investment destination in the region."
She noted that "the National Investment Commission in Iraq has taken several measures and strategies to attract foreign investment and enhance the investment environment, including simplifying administrative procedures. The Commission is working to improve the regulatory environment by reducing bureaucracy and facilitating the process of obtaining the necessary licenses and approvals for investment, and providing tax and financial incentives. Financial and tax facilities are provided to attract foreign investors, making investment in Iraq more attractive in terms of cost and expected returns."
She added, "The Authority provides technical and advisory support services to investors, helping them understand the local investment environment and overcome technical and administrative challenges. It also organizes international investment exhibitions and events, and works on promotional campaigns to highlight promising sectors and strategic projects in the country. It also coordinates with relevant ministries and entities to ensure a stable investment environment and provide the necessary infrastructure for investment projects."
She added, "The Authority has adopted electronic platforms such as the Investor Portal to facilitate the submission of applications, monitor project progress, and communicate directly with the relevant authorities."
She explained that "these combined measures aim to create a transparent and attractive investment environment that encourages foreign investors to invest their capital in the Iraqi economy and promote growth and sustainable development."
Regarding the legal measures taken by the Authority to attract foreign investment, Jassim stated that “Iraq’s accession to international commercial arbitration agreements and the Singapore Mediation Convention, and the conclusion of several agreements to encourage and protect mutual investments with a number of countries, has placed Iraq’s foreign investment ranking fourth in the foreign direct investment ranking and the best emerging market for investment in 2024, according to a study prepared by the FDI Intelligence website, which specializes in foreign direct investment affairs, based on several criteria, including GDP growth, inflation rate, growth in capital expenditure in foreign direct investment, and growth rate in foreign investment projects, in addition to the advantages and guarantees of Investment Law No. 13 of 2006 and its amendments.”
She pointed out that "Iraq signed the Singapore Convention last April, which has a significant pivotal dimension, most notably the creation of an alternative method to litigation procedures before international arbitration bodies in disputes arising from investment through commercial mediation. This will contribute to achieving sustainable development goals and encouraging the increased use of international mediation as an effective means of settling cross-border disputes and preserving commercial relations between the parties involved in the investment process."
She added, "Iraq's accession to the International Centre for Settlement of Investment Disputes between States and Nationals of Other States in 2015, through which foreign investors have the right to resort to the Washington-based centre, in addition to Iraq's accession to the New York Convention on the Recognition and Enforcement of Foreign Judgments of 1958, complements the legislative environment necessary to provide guarantees and protection to foreign investors, which will positively reflect on attracting foreign capital to contribute to reconstruction, which will contribute to raising Iraq's ranking in the future."
She explained that "these measures are a reassuring message to investment companies and investors, as the legal department at the National Investment Commission and the investment authorities in the governorates will work to include clauses in international investment contracts stipulating commercial mediation procedures to resolve disputes related to investment contracts more easily than international commercial arbitration procedures."
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— شبكة الإعلام العراقي (@iraqmedianet) March 24, 2025
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