The most prominent economic events in Iraq in 2015

12/28/2015 12:10

BAGHDAD / Obelisk: Iraq saw mixed economic events during 2015, some of which inflicted damage on the national economy and the other was positive, according to observers.

And summarized these events consistently lower oil prices to low levels, and the House vote on the 2016 budget for the first time before year's end, in addition to the issuance of the Central Bank of the category 50 thousand dinars, and the decision of the Cabinet to cut the salaries of the three presidencies in half.


Perhaps the continuing decline in oil prices to low levels, which amounted to less than $ 35 a barrel may be the latest most prominent during 2015 because of its negative effects on the reality of the federal budget and projects in Iraq.

He says oil expert Hussein Allawi, "Iraq has a rentier economy may negatively reflected on the economic and social reality, which was clearly evident with the decline in oil prices," he said, adding that "95% of the state budget entirely dependent on oil."

Allawi and adds that "the state did not play over the past years to diversify its sources for the purpose of funding its general budget agricultural, industrial and private despite the availability of huge budgets," noting that "Iraq could only import without paying attention to the reconstruction of other sectors."

In (May 31, 2015) The Oil Ministry announced the start of Basra export heavy crude oil card 850 thousand barrels per day is expected to increase gradually, so that Iraq may be the source separation of crude oil into two types (light and heavy) in response to the desire of consuming countries.

(June 2015) managed to Iraq during the current year of breaking records in the export figures where these exports amounted to 3.187 million barrels after the export of heavy oil to the market as well, as these exports amounted to 3.365 million barrels in November 2015.

(July 2015) the region has stopped oil deliveries to the Sumo and started exporting its oil away from the center via the Ceyhan, which was held after the agreement between the central government and the provincial government, after it was delivered without center amounts agreed.

The former oil minister Hussain al-Shahristani in (March 12 015) that the quantities exported from Kurdistan have not attained the agreed quantities and is 550 000 barrels since the first month were exported from the province and Kirkuk, about 150 000 barrels and the second month amounted to 300 000 barrels.

(23 September 2015) the economic security adviser in the Kurdistan Regional Government Bioar Khansa announced that the Kurdistan region raise the volume of its oil exports to 700 thousand barrels per day.


(RIA Finance 252 015) signed with Japan on the two loans facilitators of energy and sewer $ 900 million.

(August 5 201) dozens of traders and importers, workers and truck drivers went out in a protest demonstration near the port Safwan border only land between Iraq and Kuwait in protest against the implementation of a new law tariff customs, and they close the outer gate of the port and disrupt the passage of goods and passengers between the two countries.

(September 16 2015) sent the Ministry of Finance a draft federal budget for the 2016 law to the Council of Ministers estimated the Ministry of Finance, the price of oil rate within the 2016 budget at $ 45 and the export of 3.6 million barrels per day, as pointed out that revenue budget will amount to more than 84 thousand trillion and 73 billion dinars.

(December 16, 2015) the House of Representatives majority vote on the draft budget for fiscal 2016 worth in excess of 105 trillion dinars law, and a deficit of more than 24 trillion dinars.

(December 16, 2015) the House of Representatives vote on paragraph 25 of the budget which includes a tax on Kartat mobilize phones and 20% on alcoholic beverages and 100%. "

(December 16, 2015) the House of Representatives vote on the deduction of 3% of the salaries of all employees and retirees, noting that the deduction will include the salaries of the staff Krdstan.roatb staff and customizations.

Central Bank

(March 32 015), the central bank declares that "the new regulations set by the Bank is that the auction is no longer a daily window of operations for the sale of currency auctions," adding that "new mechanisms developed to sell this currency, especially that of its functions to provide currency for foreign trade."

(September 72 015), the central bank announced to start the launch of the largest funding for lending programs Baeracalbalgh 6 trillion dinars, indicating that they belong to the financing of industrial, agricultural and housing sectors also supports small and medium enterprises and revitalizing the Iraqi economy.

(November 11, 2015) of the Central Bank of Iraq announced issuing new banknote fifty thousand Dinars category, attributing this to the completion of the Iraqi Securities monetary structure and the development of high value in the trading category.

(November 12, 2015) The Central Bank imposes fines against banks amounted to 400 billion dinars included 40 banks due to multiple violations of banking.

Council of Ministers and local governments

(May 5, 2015) Council of Ministers decided to lend to the housing fund from the Rafidain and Rasheed amount of one hundred billion dinars to support lending to citizens for the purpose of bearing housing with the Ministry of Finance legal interest and in coordination with the Minister of Finance.

(July 21, 2015) Council of Ministers decides to reduce senior positions salaries of the three presidencies by 50%, and reduce the minister allocations and their grade and earn their salaries by 45%, and reducing staff allocations in all functional addresses in the three presidencies, agencies and departments associated by 30%.

(December 8, 2015) the voice of the Baghdad Provincial Council, on Tuesday, the Turkish province of products, any contract or agreement with a Turkish company.

(January 22, 2015) of the Kurdistan Regional Government announced fiscal reforms include lowering the upper and private positions salaries in the Kurdistan region and reduce the appropriations package confirmed that it had formed a committee to review and reform the structure of the Kurdistan Regional Government and variety Council of Ministers, ministries and government Almaossat.


(September 21 2015) Planning announces delete 296 projects, and the postponement of another project in 2169, representing 40% of the projects due to the current financial crisis.

(November 23, 2015) after refusing to Parliament during the past year planning establish controls and mechanisms to implement all investment projects in a manner of payment term to be adopted within the next year's budget in 2016, "noting that" the interest rate for financing credit for these projects should not exceed 6 % and it is calculated on the basis of disbursements of the loan, not just on the basis of the total amount. "


(01/14/2015) General Company for Ports announced the arrival of a foreign vessel to the port of Umm Qasr carrying three new trains have been Tsnaahma in China for the General Company for Railways.

(02/05/2015) The company announced the arrival of four other trains, thus bringing the number of trains that have been received to 11 out of 12 trains and that the Iraqi government has already contracted to buy them from a Chinese company worth $ 138 million.

(July 26, 2015) introduced the Ministry of Transport Project Baghdad Taxi to active duty after the expiry of its pilot phase.

(October 2, 2015) receive Airlines plane carrying 12 of the 800-737 model aircraft from within our company received from the Boeing Company under contract with them.

The general director of Iraqi Airways Osama al-Sadr in an interview with Alsumaria News that the Iraqi Airways fleet became (32 aircraft after the plane receiving 12 of the Boeing Company, noting that all these aircraft are from the new generations and the finest aircraft manufacturing companies in the world such as company Boeing Co. and Airbus.

(December 24 2015) and the Ministry of Transport agree to establish a "Basra Holding Company" to finance the project of the port of Faw because of the financial crisis taking place in Iraq.


(March 62 015) announced that the Department of Agriculture in Basra to Iraqi traders who, during the first quarter of this year, the export of 113 tons of sheep wool to the United Arab Emirates for the purpose of selling them to specialized companies in the textile industry, the largest amount is exported since 2003.

(December 7, 2014) and the Ministry of Agriculture confirmed that it did not reach self-sufficiency in strategic crops because of Daash control over areas of Mosul, which is famous for the cultivation of wheat and cultivated areas where 30%.


(February 12, 2015) announced the production of electrical energy directorate in Basra province to sign a contract with a company (, the Nippon Koei Japanese Advisory) in preparation for the rehabilitation of the fourth generating unit in Hartha thermal plant at a cost of $ 200 million by my company (Mitsubishi) and (Hitachi), the Japanese, and with funding from the Japanese concessional loan for Iraq.

(April 11, 2015) and the Ministry of Electricity announced a new pricing of energy consumption, which ranged between 15 thousand dinars for those who consume the five Amperes for 24 hours down to 750 thousand more than those who consumed the 60 Lempira.


(October 20, 2015) announces the integration of its companies and the reduction of up to for 32 after it was 73 companies.

(December 24 2015) Industry confirmed that it is able to cater to the ration card items of material Zitala 30% of them after he is rehabilitating its plants in one year.


(November 1, 2015) Trade opens the Baghdad International Fair in its 42 with the participation of 22 countries and more than 600 companies.

(December 8, 2015) and the Ministry of Commerce contracted with the company to supply Toyota Motor Salon Korla type and bus type vehicles Hayes for the purpose of distribution to citizens who wish to purchase.

(December 16, 2015) Trade recognizes Ptkouha and the delay in the processing of oil substance in the previous months because of a number of companies Nkol obligations direction of the ministry as a result of its contract with companies that are not of competence.