Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

EBRD set to decide on Iraq membership next month

The European Bank for Reconstruction and Development (EBRD) is assessing a request from Iraq to become a member of the multilateral financial institution, the bank’s acting president said on Monday. Iraq, an oil producer whose economy is suffering from the double blow of the coronavirus crisis and lower oil prices, could potentially receive funding to support its private sector if it joins. “Iraq’s membership will be decided by our board of governors at the annual meeting in three weeks from now,” said Jurgen Rigterink, the EBRD’s Acting President. Set up in 1991 to help ex-communist countries of eastern Europe shift to market economies, the EBRD has widened its geographic scope in recent years to countries including Egypt, Tunisia and Morocco.
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Iraq Falters in Push to Meet OPEC+ Quota as Crude Exports Rise

(Bloomberg) -- Iraq is exporting more crude so far in September than its daily average last month, seeming to put compliance with the country’s OPEC+ production limit further out of reach. A long-time laggard when it comes to reducing output by agreed amounts, Iraq already owes its partners in the producers’ group a level of cuts over and above its pledged target to make up for pumping too much in past months.
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BP says the era of oil-demand growth is over

BP Plc said the relentless growth of oil demand is over, becoming the first super major to call the end of an era many thought would last another decade or more.  Oil consumption may never return to levels seen before the coronavirus crisis took hold, BP said in a report on Monday. Even its most bullish scenario sees demand no better than broadly flat for the next two decades as the energy transition shifts the world away from fossil fuels.
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Iraq to Offer First-Ever Barley Exports as Rains Yield Surplus

The government plans to start auctioning 700,000 tons of the grain next week and anticipates interest from Gulf Arab states, Jordan and countries in North Africa, agriculture ministry spokesman Hameed Al-Nayef said by phone. It’s setting a minimum price of $125 per ton. “The reason behind the barley surplus is the water reserve we had from last year,” Al-Nayef said. “This year we harvested 600,000 tons.”
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DRC* ANALYSIS OF KEY VALUE CHAINS IN THE AGRICULTURE AND FOOD-PROCESSING SECTOR

EXECUTIVE SUMMARY As Iraq emerges from nearly four years of conflict and displacement, the security context remains unstable in many parts of the country. The COVID-19 outbreak in early 2020 brought fresh challenges, including closed borders, curfews and restrictions on movement. Forecasts predict a negative impact on livelihoods and employment, with the economy expected to

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KAPIT* Iraqi Agriculture Overview

The economy of Iraq is mostly oil-dependent as oil revenues contribute to over two-thirds of the GDP and nearly most of the exports and government revenues. Investment in the oil sector has reached 66% of the total expenditure investment in 2017. The GDP of Iraq in 2019 has reached USD 234.09 Billion with an annual growth of 4.401%. The unemployment rate is 10.26% in men while

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Iraqi farming and privatisation: an interview with Eckart Woertz

Ahead of our forthcoming second report on Iraq’s water resources, we spoke with Eckart Woertz, Director at the GIGA Institute of Middle East Studies and Professor for contemporary history and politics of the Middle East at the University of Hamburg. In 2014, Dr. Woertz published Oil for Food: The Global Food Crisis and the Middle East. A detailed analysis of the political ec

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The Iraqi National Economy

Iraq warns economic woes could stoke insecurity. By
Radical reform is only way to avert ‘disaster’ for oil-reliant country, says
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Iraq Post Coronavirus: An Opportunity for Self-Reliance and
 This article discusses an optimistic and realistic proposal to minimise the overall
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Worlbank: Iraq Economic Report
The Iraq Economic Monitor provides an update on key economic developments and
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Oil & Gas Policy

BP says the era of oil-demand growth is
BP Plc said the relentless growth of oil demand is over, becoming
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Tariq Shafiq* Oil and Politics in My Life,
A typical Iraqi individual From the outset, let me say that I
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Historical Oil Shocks. By James D. Hamilton
ABSTRACT This paper surveys the history of the oil industry with a
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The Iraq Considers A String Of Massive Oil
Iraq’s With the Western-leaning, reformist agenda of Iran President, Hassan Rouhani, neutered
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