Latest Economy News

Baghdad (IraqiNews.com) – The Iraqi Ministry of Finance revealed on Monday that Iraq’s financial revenues in the federal budget during the first quarter of 2024 surpassed 30 trillion dinars (around $22.98 billion). The data released by the Finance Ministry in May for the finances for the current fiscal year’s months of January, February, and March indicated tha

Baghdad (IraqiNews.com) – During an extraordinary session on Sunday, the Iraqi cabinet approved the federal general budget for 2024. Following the cabinet’s approval, the federal general budget will be sent to the Iraqi Parliament for approval, according to a statement released by the Prime Minister’s Office (PMO). According to Moeen Al-Kadhimi, a member of the Parliament

Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Monday that the state-owned Midland Oil Company signed a contract with a consortium of Jereh Group, a Chinese oil field services company and manufacturer of oilfield equipment, and Petro Iraq to develop the Mansouriya gas field. The Oil Ministry’s undersecretary for extraction affairs, Bassim Mohammed Khudair,

Baghdad (IraqiNews.com) – The Iraqi Republic Railways Company plans to transport 13 million passengers annually through the Development Road’s railway. The director of the national railway operator, Younis Al-Kaabi, told the Iraqi News Agency (INA) that the Ministry of Transport chose the path of the Development Road after reviewing three proposals from the designing company

Shafaq News/ Iraq's imports from Turkiye climbed 32% in the first quarter of 2024 compared to the same period in 2023, according to a statement released by the Iraq Future Foundation for Economic Studies and Consultations on Friday. Total imports reached $2.9 billion, driven by a 31% increase in foodstuff exports, mainly flour. Additionally, exports of other commodities, inc