Iraqi Economists Network

Baghdad calls on Iraqi Kurdistan officials to discuss oil export resumption

Baghdad (IraqiNews.com) – In an attempt to come to an agreement on the restart of oil exports via an oil pipeline to the Turkish port of Ceyhan, the Iraqi Ministry of Oil on Tuesday asked for a meeting as soon as possible with the Ministry of Natural Resources in the Kurdistan region of Iraq and foreign companies operating in northern Iraq.

Iraq to continue oil production cuts until the end of 2025

Baghdad (IraqiNews.com) – Iraq and other OPEC+ member states decided on Sunday to extend the additional voluntary cuts of 1.65 million barrels per day until the end of December 2025. Iraq, Saudi Arabia, Russia, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, which announced voluntary cuts in April 2023 and November 2023, held a meeting in the Saudi capital, Riyadh, on the sidelines of the 37th OPEC and non-OPEC Ministerial Meeting (ONOMM).

IMF Expects Iraq’s Economy to Grow by 1.4% in 2024, 5.3% in 2025

The International Monetary Fund (IMF) said on Thursday that Iraq’s economy contracted by 2.2% in 2022, projecting a growth by 1.4% in 2024 and 5.3% in 2025. The international monetary organization expected fiscal deficit to widen to 7.6% of GDP in 2024 from 1.3% in 2023, noting that Iraq requires an ambitious fiscal adjustment to stabilize debt in the medium term and rebuild buffers.

Losses resulting from shutdown of conduit to Turkey estimated at more than $4 billion The once-thriving oil industry in the northern Kurdish region of Iraq has ground to a halt as the closure of the export pipeline to Turkey, now in its sixth month, continues, inflicting economic devastation. In late March, Turkey halted flows of oil produced in the region after an arbitrat

IFC Regional Director Aftab Ahmed and Iraqi Prime Minister.jpg Baghdad, Iraq, September 03, 2023—IFC signed a flagship agreement today with the government of Iraq that will harness private sector capital and expertise to develop the country's main airport—opening the door for more private sector investment and establishing a competitive model for other critical infrastructur

Abstract Iraq’s economy continued its recovery after the sharp, pandemic-induced recession in 2020 but growth constraints in the oil sector have reemerged. After moderating in 2022, consumer price inflation ticked up in early 2023, fueled by the depreciation of the Iraqi dinar in the parallel market. Fiscal and external account balances benefitted from the oi

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