Sudani: Spending has increased significantly due to the budget deficit in Iraq

Prime Minister Mohammed Shia al-Sudani acknowledged on Friday the increase in the rate of government spending compared to the deficit in the country’s general budget.

His remarks came during a meeting with a group of tribal sheikhs, religious figures, dignitaries, and academic and social elites from areas and neighborhoods south of the capital, Baghdad.

During the meeting, Al-Sudani said that “oil cannot be relied upon as the sole source of income in the long term, because it is subject to price fluctuations and events in the region.”

He pointed out that “spending has increased significantly in light of the budget deficit that was approved by the House of Representatives, and some are deliberately misleading public opinion for their own purposes.”

Al-Sudani also pointed out that “the amount of state spending in 2024 was 150 trillion dinars out of a budget of 220 trillion dinars.”

He stressed that the Iraqi federal government is “keen to implement reforms in various sectors, provided that they do not affect citizens with limited income.”

The Prime Minister continued, saying: We inherited (2582) stalled projects, some of which date back to 2005 and are worth (131) trillion dinars.

Al-Sudani continued, saying that the government he currently heads “has outlined the features of Iraq’s foreign policies and relations, based on the exchange of mutual benefit and common interests and the preservation of sovereignty.”

Shafaq.com

Ministry of Transport: Contracts signed with 4 international technical and economic companies regarding the development road

Minister of Transport Razzaq Muhaibis Al-Saadawi confirmed on Friday that the ministry is in the process of contracting with a third party to audit the technical company responsible for the Development Road project. He pointed out that this road is an integrated economic project targeting 8 sectors. Al-Saadawi told the official news agency that “the ministry has worked to overcome the challenges in the Development Road project by utilizing foreign expertise,” noting that “this project is strategic and large, being established for the first time in Iraq, and therefore there is a need for foreign expertise.”

He added that “the ministry sought technical advice from the Italian company (PTP), and also sought financial and economic advice from the American company (Oliver Wyman), and also contracted with the American company (KBR) to audit the advisor (Oliver Wyman),” noting that “the ministry is now in the process of contracting with an auditor or a third party to audit the technical company.”

Al-Saadawi also explained that “this road is an integrated economic project targeting eight sectors, and there are countries willing to participate in the project,” stressing that “there is a supreme committee and a body that is planned to be formed to manage the development road project.”

Burathanews.com

The Central Bank of Iraq signs a cooperation agreement with the National Bank of Kuwait – Bahrain.

The Central Bank of Iraq signed a joint cooperation agreement with National Bank of Kuwait-Bahrain in the capital Baghdad.
A statement from the bank indicated that “under the patronage and in the presence of the governor Central Bank of Iraq, Ali Mohsen Al-Alaq, He fell Central Bank of Iraq Joint cooperation agreement with National Bank of Kuwait-Bahrain And it happened ceremonies The signing took place at the Iraqi Central Bank headquarters in Baghdad.

The statement added that “he attended on behalf of the bank Kuwait CEO – Bahrain, Ali Fardan, along with his deputy, the president Treasury Mohammed Momen, and members of the delegation, signed the agreement on behalf of the Iraqi side. Muhammad Yunus Abu Ragheef Director General of Investments at the Central Bank of Iraq.

According to the statement, the Governor expressed “a warm welcome to the visiting delegation, recalling the deep and diverse ties between the people of Iraq And the people of Kuwait and Bahrain, wishing them continued success. For his part, Fardan emphasized raising the level of cooperation in the areas of financial transfers and electronic payments, in addition to training on the best modern banking practices between the two parties, and statistical data, inviting His Excellency the Governor to visit the headquarters. National Bank In Bahrain.

Alsumaria.tv

Liquidity and balance of payments in Iraq declined over the past three months.

The Iraqi Ministry of Planning announced on Wednesday the economic indicators for the country for the first quarter of 2025.

The Ministry’s Central Statistical Organization stated in a report seen by Shafaq News Agency that the most important indicators for the first quarter of 2025 point to a decrease in merchandise imports compared to exports, which led to a decrease in the net balance of payments to 5.9 trillion dinars.

He added that there has been a decrease in public deposits with banks, which has led to a decline in cash liquidity, noting that total bank credit amounted to 71.3 trillion dinars.

He pointed out that the amount of electricity produced in the first quarter of 2025 amounted to 33,142,433 megawatt-hours, while the amount of imported energy amounted to 1,673,496 megawatt-hours.

The unit “megawatt-hour” means the amount of power generated or imported during the actual operating hours of the national electricity grid.

Shafaq.com

“Oil for water”: A Turkish agreement places Iraq at the heart of an equation that confounds Iran.

In a move described as unprecedented in the Middle East, Turkey is moving towards an agreement to release one billion cubic meters of water towards Iraq, in exchange for exporting half a million barrels of oil per day to Turkey.

The deal, which appears purely economic on the surface, is fundamentally part of what a report by the Iranian Diplomacy website , translated by Shafaq News Agency, described as “Ankara’s grand strategy of using water as a geopolitical pressure tactic.” This policy, according to the report, has repercussions not only for Iraq but also for Iran, which is already facing an unprecedented water shortage.

Ankara and the water weapon

Since the 1980s, Turkey has embarked on its massive GAP project, which involves constructing dozens of dams on the Tigris and Euphrates rivers. This project has given Turkey a dominant position over the shared water resources with Iraq and Syria, transforming it over time into a dominant water power through which it practices what the regional press calls “blue diplomacy.”

With climate change worsening and rainfall becoming scarce, Ankara has leveraged this natural advantage to reshape the balance of power in the region. Building dams is no longer merely an engineering decision, but a tool for political and economic negotiation, and sometimes a means of deterrence.

Observers believe that the construction of new dams such as Karakurt, Tuzluja and Suyilmaz in the upper reaches of the Aras River threatens the water security of entire Iranian cities in West Azerbaijan, Kermanshah, Ilam and even Khuzestan.

Tehran: Between Thirst and Blackmail

The drying up of lakes such as Urmia and Hawr al-Azim, according to environmental reports, is not only a result of internal neglect, but also a direct consequence of the Turkish dam policy that has reduced the flow of rivers into Iranian territory.

Experts in Tehran believe that “Ankara has made water a strategic commodity that can be traded for oil or political concessions,” and that the recent oil move towards Iraq is a clear example of this approach, as it reinforces Turkey’s position as a player that controls a vital resource in the regional energy market.

In contrast, former Iranian diplomats warned that what is described as “water terrorism” threatens Iranian national security, after water scarcity became an issue where geography, politics, and security intersect.

In eastern Iran, the story is repeated, albeit with a different geography. Successive Afghan governments, from Ashraf Ghani to the Taliban, have also adopted a policy of damming the Helmand River, disregarding the 1973 agreement that guarantees Iran 820 million cubic meters of water annually.

“If Iran wants more water, let it pay with oil,” Ghani once said, and the Taliban put it into practice by opening the “Kamal Khan” dam and proposing projects to build twenty additional dams.

The result was tragic, with Lake Hamoun drying up, thousands of families displaced, and agriculture collapsing in Sistan and Baluchestan.

Former Iranian ambassador to Brazil, Seyed Ali Saghaian, believes that Turkey’s oil move is not just a deal, but a test of the extent to which countries in the region are willing to accept “the logic of immoral bartering”.

He tells Sharq newspaper: “Remaining silent about the oil-for-water policy will open the door for Ankara, the Taliban, and others to blackmail their neighbors. Iran, Iraq, Syria, and Armenia must reactivate their joint committees to protect their right to water resources.”

Saqayyan warns that Türkiye itself “is suffering from a severe internal water crisis in Ankara and Istanbul, and that the dam policy could backfire on it environmentally and socially.”

He adds: “It is a mistake to allow the normalization of the principle of water bartering, as water is not a commodity, but a sovereign right guaranteed by international conventions.”

For his part, Kurdish expert on regional affairs Salahuddin Khadiyo believes that Turkey and Afghanistan treat water as a “hard political currency”.

He says that Ankara “realized early on that water in the 21st century would replace oil in the balance of power,” taking advantage of its geographical location on the sources of rivers.

Khadija believes that “Turkey’s dam policy has contributed to exacerbating the crises in Syria and Iraq by intensifying drought and generating waves of migration and poverty,” adding that “the Taliban are practicing the same policy today, but in a more chaotic manner.”

He warns that continuing this approach will turn water from a source of life into a factor of conflict and instability, calling for “genuine regional diplomacy” conducted through cooperation, not threats.

The Middle East is on the brink of a great thirst

As the region approaches its driest decade, water appears to be a new nerve center of power. Turkey is projecting its strength through dams, Iran is defending its historical rights to rivers, Afghanistan is bargaining over the Helmand River, while Iraq teeters between water scarcity and energy dependence.

In this gloomy scene, Saqayyan says that “salvation will not come from water battles, but from water diplomacy.”

Shafaq.com

A report ranks Iraq on the “strongest reputation” index for countries.

Iraq ranked 117th globally and eighth in the Arab world in the index of countries with the strongest international reputation, according to a report by the American magazine CEOWORLD.

The magazine stated in its report, which was reviewed by Shafaq News Agency, that it relied on ten dimensions and fifty key attributes in the “strongest reputation for countries” index, combining tangible data and cognitive analyses in the areas of ethics, innovation, governance, sustainability, and social cohesion.

The magazine added that each dimension measures how global citizens perceive a country’s leadership, integrity, capacity for innovation, culture, and human capital, to form what is known as a comprehensive “trust index” for countries.

The report indicated that Iraq ranked 117th globally out of 197 listed countries, with a score of 46.37 out of 100 in the strongest global reputation index, and eighth in the Arab world.

Singapore ranked first globally with 97.83 points, followed by Switzerland with 97.81 points, Ireland with 97.22 points, the Netherlands with 96.77 points, and Germany in fifth place with 95.49 points. North Korea and Palestine ranked last with 14.26 points, and Palestine with 14.58 points, respectively.

In the Arab world, the UAE came in first with 91.03 points, followed by Kuwait with 81.67 points, Bahrain with 80.15 points, Qatar with 66.94 points, Saudi Arabia with 65.59 points, Libya with 50.8 points, and Algeria with 47.07 points, while Iraq came in eighth.

The results also showed that Lebanon came in ninth with 44.5 points, Morocco in tenth with 44.11 points, Jordan in eleventh with 44 points, and Tunisia in twelfth with 41.97 points.

Shafaq.com

5 days of electoral calm.. The Commission reveals the date of special voting and the voting holiday – Urgent

The Electoral Commission revealed on Tuesday (October 28, 2025) the details of the election holiday and the date of the special voting for the upcoming House of Representatives elections.

The head of the commission’s media team, Imad Jamil, said in a press statement that “the special voting will take place on November 9 (9/11), two days before the general election.”

He added that “the election holiday will initially be from Friday to Tuesday, i.e., for five days, extending until the day of the general vote,” indicating that “the possibility of extending the holiday to a week is still on the table, pending a decision by the Council of Ministers, as determining the official holiday is exclusively within its powers.”

He noted that “the Ministry of Education will hand over the schools designated as polling centers to the Commission starting from November 5th until the 12th,” stressing that “the Commission is awaiting the government’s decision regarding the final duration of the holiday.”

These arrangements are part of the final preparations being made by the Electoral Commission in preparation for the House of Representatives elections scheduled for mid-November, as the Commission intensifies its coordination with ministries and security institutions to ensure the smooth running of the electoral process and its organization in a safe and stable environment.

It is worth noting that special voting includes security forces, inmates and displaced persons, and is usually conducted before the general vote to allow them to participate without affecting security on election day.

Burathanews.com

With Al-Sudani’s attendance, Iraq ushered in a renewed banking era.

Iraq inaugurated its headquarters in Baghdad in the presence of Prime Minister Mohammed Shia al-Sudani, who affirmed that the bank’s presence represents a strategic addition to the national banking sector.

The bank said in a statement, “The launch of Arab Bank – Iraq comes within the framework of strengthening the presence of the Arab Bank Group, which owns one of the largest Arab banking networks globally, with more than 600 branches across four continents. The group is based on an ambitious future vision and a comprehensive strategy that employs the latest digital developments in the banking industry, reinforced by a distinguished reputation and banking experience spanning more than nine decades, during which it has been able to build solid relationships with generations of customers locally, regionally and globally across various sectors.”

He explained that “the headquarters of Arab Bank – Iraq embodies its corporate identity, reflecting its dynamic organization and strong ties with customers, partners, and the community. Based on its corporate slogan, “Arrival is a Beginning,” which reflects the bank’s commitment to enabling its customers to achieve their ambitions and celebrate their achievements as new beginnings toward further success, this opening is a distinctive start to the official launch of Arab Bank – Iraq, with its new horizons and confident steps toward a renewed banking future.”

In his speech at the opening ceremony, Prime Minister Mohammed Shia al-Sudani said, “The presence of the Arab Bank of Iraq represents a strategic addition to the national banking sector, and is a model for what we aspire to in terms of modern and effective banking institutions capable of providing advanced services that contribute to financing sustainable development.” He emphasized “the need to stimulate the financing of diverse investment projects and opportunities, given the presence of a bold and capable Iraqi private sector that understands the intricacies of the investment environment.”

The Governor of the Central Bank of Iraq, Ali Al-Alaq, welcomed the return of Arab Bank to Iraq through Arab Bank-Iraq, noting “the bank’s long history and experience spanning more than nine decades.”

He expressed his pride in “Arab Bank Iraq’s contribution to the soon-to-be-launched Riyada Bank.”

For his part, Sabih Masri, Chairman of the Board of Directors of the Arab Bank Group, thanked Prime Minister Mohammed Shia al-Sudani for sponsoring the opening ceremony, stressing that “this participation embodies the Iraqi government’s commitment to supporting the banking sector and developing its infrastructure. It also supports the Arab Bank of Iraq’s journey as part of the Arab Bank Group’s efforts to serve the Iraqi economy.”

Al-Masry commended the presence of the Governor of the Central Bank of Iraq, praising his “pivotal role in supporting and stabilizing the Iraqi banking sector.” He emphasized that “the Central Bank represents the fundamental pillar of this sector, and its efforts directly contribute to strengthening confidence in Iraqi banking institutions.”

Miliq.news

Central Bank: E-commerce rises to $60 billion

The Central Bank of Iraq expects the amount of electronic payments to reach $60 billion by 2035, as part of the reform plan and the gradual abandonment of paper transactions.

In an exclusive interview with Al-Sabah, the bank’s spokesperson, Alaa Al-Fahad, said, “As part of its reform plan, the bank is pursuing an electronic transformation and financial inclusion, given its significant role in reducing reliance on paper cash transactions, which has significantly reduced the use of paper. It has also encouraged all individuals today to increase their transactions and shift to electronic payments, particularly for salaries and government departments.”

He added, “The bank is implementing a banking reform plan in cooperation with Oliver Wyman, which announced in its report a significant response from banks to the reform plan’s implementation, expecting electronic payments to reach $60 billion by 2035.”

Al-Fahd explained that “electronic payments have significantly reduced the printing of banknotes due to electronic transactions,” noting that “there is an idea to move towards digital electronic banks and the significant role they play in reducing reliance on paper money.”

He continued, “The development of electronic payment over the past three years has witnessed a qualitative leap and a very high growth rate, as the number of cards issued has reached more than 22 million cards, in addition to the import of devices that amounted to more than 75 thousand devices,” expecting that “the future will bring greater growth in the issue of electronic payment and transactions as an alternative to dealing with Paper.

Alsabaah.iq

Due to election campaigns, Al-Saadi: No Parliament sessions before November 11

The head of the Parliamentary Legal Committee, MP Murtada Al-Saadi, confirmed on Tuesday that it is impossible to hold any session of the House of Representatives before November 11, due to the preoccupation of political forces and representatives with the ongoing election campaigns.

Al-Saadi said in an interview with / Al-Maalouma /, “All indicators point beyond doubt to the impossibility of holding a session of the House of Representatives before November 11, given the preoccupation of political forces and representatives with the election campaigns that have reached their peak these days,” indicating that “holding the session in light of this electoral momentum is extremely difficult, despite the importance of proceeding with the approval of some laws.”

He added that “after November 11, the House of Representatives will have the right to hold its sessions officially and resume its legislative work to complete the list of laws that require a vote or a second reading,” noting that “the passage of these laws remains contingent on achieving consensus among the political blocs within Parliament.”

Almaalomah.me