Latest Economy News

Iraq, fighting a booming currency black market, has considerably increased overseas dollar transactions through the official global SWIFT system, the Central Bank vice governor said on Monday. With dollars dominating the country's economy, Baghdad has imposed a series of restrictions on the use of American greenbacks domestically. At the end of 2022 the country's bankings

Baghdad (IraqiNews.com) – The Iraqi Prime Minister, Mohammed Shia Al-Sudani, confirmed on Monday that Iraq welcomes the participation of German companies in Iraq’s development initiatives. Al-Sudani’s statement took place during his meeting with Germany’s Minister of State at the Federal Foreign Office, Tobias Lindner, and his accompanying delegation, according to a statemen

Shafaq News/ Iraq's oil ministry on Tuesday said investments in gas resources is a top priority for the government as it prepares for a new bidding round. The ministry's undersecretary for gas affairs, Izzat Sabir, said that the government is "committed to developing the gas sector to increase national production and reduce gas flaring." Sabir made those remarks during a

Baghdad (IraqiNews.com) – The Iraqi Ministry of Transport revealed on Monday that the government has authorized a proposal to purchase 50 new trains from foreign manufacturers to service a 1,200-kilometer railway that is currently under construction. The information director at the Iraqi Transport Ministry, Maytham Safi, told the Iraqi News Agency (INA) that 66 percent of th

Baghdad (IraqiNews.com) – The Iraqi Ministry of Electricity revealed that it is raising electricity production by 3,000 megawatts compared to last summer to reach 27,000 megawatts. The spokesperson for the Ministry of Electricity, Ahmed Musa, told the Iraqi News Agency (INA) that the Ministry has created an early plan for the summer that covers the production, transport, and