According to the new budget, Erbil will now have to deliver no less than 400,000 barrels of oil per day to Baghdad before it can receive its share of the federal budget. [Getty] On June 21, 2023 Iraqi President Abdul Latif Rashid ratified the country’s long-awaited three-year federal budget bill. On June 11, the bulk of MPs had voted for a three-year budget bill of around 19
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Analysis: Iraq’s new budget may hamper more than it helps. By Hamzeh Hadad This year’s budget is Iraq’s largest at 198.9 trillion dinars ($153bn) with the same allocated for 2024 and 2025. The Iraqi Council of Representatives passed the 2023, 2024 and 2025 federal budgets on June 12, nearly eight months after Prime Minister Mohammad Shia al-Sudani’s new government wa
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Iraq has once again been hit by US financial restrictions, this time aimed at restricting specific banks and individuals from trading in the Central Bank of Iraq (CBI)’s daily currency auctions. The timing of these economic measures can in part be attributed to increased tensions between the US and Iran, that are once again being played out in Iraq. However, the elites targeted
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As part of a continued collaboration with the Middle East Peace and Security Forum held in Iraqi Kurdistan at the American University of Kurdistan, the Middle East Institute and the Iraq Policy Group held a workshop on Nov. 15, 2022 focusing on challenges of economic diversification, energy transition, and impacts on labor markets in Iraq and the Gulf region. Our one-day worksh
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Attempts to control a monetary crisis have had unintended consequences for a country struggling to get back on its feet By Raya Jalabi in Sulaimaniya, Iraq Iraq is struggling to control a crippling currency crisis that has roiled the country for months, underlining the fragility of its oil-dependent economy 20 years on from the US-led invasion. Ali Mohsen al-All
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