Al-Zaydi: “The development route” transforms Iraq and Turkey into a link between Asia and Europe

Prime Minister Ali al-Zaidi affirmed on Tuesday that the vital development road project transforms Iraq and Turkey into a link connecting Asia and Europe, while also calling for joint management of the water issue between the two countries.

In an article for the official Turkish news agency Anadolu, Al-Zaydi wrote that “during the past decades, the relationship between Iraq and Turkey was presented from the angle of files that need management: security, water, trade, and border movement,” indicating that the region “stands today before a different opportunity, which requires us to look to the future with a more ambitious eye.” DailyNews Reports

He added that “Iraq has chosen the path of stability, reform and development, and has prioritized building a strong economy, an effective state, and balanced foreign relations that make regional cooperation a pillar of growth,” stressing that Turkey “possesses an advanced industrial base, a strategic location, and extensive experience in the fields of infrastructure, energy and transportation.”

Al-Zaydi said that “the potential of the two countries together is not just shared borders, but a wide space to build one of the most important economic partnerships in the region,” noting that “Iraq and Turkey have a historic opportunity to transform their geographical location into economic value, making them a link between the Gulf, Asia and Europe.”

He pointed out that “the development route is not just an Iraqi project, but a regional one that redefines the concept of economic connectivity in the Middle East,” explaining that “the development route not only shortens the time for transporting goods, but also creates new cities, industrial zones, investment opportunities, thousands of jobs, and gives the region a new economic artery that connects ports to global markets.”

In another part of his article, the Iraqi Prime Minister addressed the issue of water, saying that it “is no longer just a technical issue, but has become a development issue that affects the future of millions of citizens,” expressing his hope for “joint management of the water issue based on mutual interests, scientific cooperation, and investment in modern technologies, in order to achieve water and food security for our people.”

These statements come at a time when Prime Minister Ali al-Zaidi is expected to make an official visit at the head of a high-level government delegation to Ankara to discuss several issues with Turkish officials regarding bilateral relations between the two countries, and the events and developments taking place in the region.

In April 2024, Iraq, Turkey, the UAE and Qatar signed a four-way agreement for the Iraq Development Road project, under the auspices of former Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdogan.

The project, which includes a 1,200-kilometer road and railway within Iraq, aims to promote economic integration between East and West, increase international trade, and facilitate the movement of goods.

The project’s investment budget is approximately $17 billion, divided between $6.5 billion for the highway and $10.5 billion for the electric railway. It will be implemented in three phases, ending in 2028, 2033, and 2050.

The project is expected to provide around 100,000 job opportunities in the first phase and one million job opportunities upon completion, and will promote economic growth and regional and international cooperation.

Shafaq.com

Al-Zaidi arrives in Türkiye on an official visit

Prime Minister Ali Faleh al-Zaidi arrived in Ankara on Tuesday for an official visit to the Republic of Turkey, leading a high-level government delegation.

The Prime Minister’s Media Office stated in a statement that Al-Zidi will meet with Turkish President Recep Tayyip Erdogan and a number of senior Turkish officials to discuss ways to enhance bilateral cooperation between the two countries, particularly in the areas of economy, water, security and investment, in addition to discussing files and issues of common interest related to the region.

He added that the visit will include discussions on mechanisms for implementing bilateral agreements and memoranda of understanding, and following up on and developing joint infrastructure projects, in a way that serves the interests of the two neighboring countries.

Commenting on the visit, Al-Zaidi said in a post on the “X” platform, “We are linked to Türkiye by historical, geographical and cultural proximity, and by diverse common interests.”

He added, “During our visit, we will discuss investment, water, and development initiatives, as well as efforts to enhance stability in the region, in addition to addressing a number of economic and security issues, all of which will contribute to achieving mutual benefit for our two peoples.” FinancialMarket Analysis

According to a government source, the visit to the Turkish capital, Ankara, will include talks and cooperation agreements in the security, economic and investment fields, as well as oil and energy issues and increasing trade exchange, in addition to discussing a number of regional and international issues.

Al-Zaidi had visited the United States on July 14, before making an official visit to Iran on July 24, as part of regional and international diplomatic moves that Iraq has witnessed recently.

Shafaq.com

Iraq earns more than $2.3 billion from oil exports in May and June

The Iraqi Ministry of Oil announced on Tuesday that the country’s crude oil exports exceeded 32 million barrels, with financial revenues amounting to more than $2.3 billion during the months of May and June, based on the final statistics of the Iraqi Oil Marketing Company (SOMO). IraqEconomic Reports

The ministry stated in a statement received by Shafaq News Agency that the total amount of crude oil exported reached 32 million, 114 thousand and 677 barrels, with revenues amounting to $2 billion, 335 million, 537 thousand and 399 dollars.

The statistics showed that the quantities exported from the Basra fields amounted to 20 million, 238 thousand, 836 barrels, while exports of Kurdistan Region oil via the Turkish port of Ceyhan amounted to 1 million, 564 thousand, 625 barrels, while the quantities exported from Kirkuk oil via the same port amounted to 10 million, 311 thousand, 216 barrels.

The release of these statistics comes after a period of not regularly disclosing export and revenue data following regional tensions that affected energy supply chains and maritime navigation in the region during the past months.

In this regard, oil expert Hamza Al-Jawahiri explained in an interview with Shafaq News Agency that the irregularity of export operations and the difficulty in stabilizing exported quantities have affected the mechanism for issuing official statistics, indicating that the lack of regular confirmation of export data limits transparency and makes it difficult to accurately assess the performance of the oil sector and the revenues achieved.

It is worth noting that the Ministry of Oil had stopped publishing regular monthly statistics on exports and revenues since the release of the report for last April.

Shafaq.com

In response to pressure from political blocs, the Kurdistan Democratic Party ends its boycott of the Kirkuk Provincial Council and decides to return.

The Kurdistan Democratic Party in the Kirkuk Provincial Council announced on Tuesday that it has ended its boycott of the council’s sessions and meetings and will return to attending them, following the approval of the party leadership and in response to the demands of the participating political blocs. DailyNews Reports

Hassan Majeed, head of the party bloc in the Kirkuk Provincial Council, said in a press conference attended by a Shafaq News Agency correspondent that “the party leadership has agreed to the return of the bloc members to the provincial council meetings and to end the boycott that continued during the past period.”

He added that “the decision to return came in response to the demands of all political blocs that called for the party’s participation in the sessions, in order to ensure the strengthening of institutional work and participation in discussing service and administrative files that concern the people of the governorate.”

Majid pointed out that “the return aims to contribute to decision-making related to the governorate and to activate the role of its council during the next stage.”

This step comes after nearly two years of boycotting council sessions by members of the Kurdistan Democratic Party in protest against the formation of the Kirkuk local government at the Al-Rasheed Hotel in Baghdad without their participation, which is expected to strengthen the completion of the legal quorum and the participation of all components in managing the affairs of the governorate.

The Kurdistan Democratic Party’s boycott of the Kirkuk Provincial Council meetings dates back to the crisis that erupted following the “Al-Rasheed Hotel” session in Baghdad in August 2024, during which the local administration of the province was formed and Rebwar Taha was elected governor with the support of the Patriotic Union of Kurdistan and Arab and Christian forces, in contrast to the objection of the Democratic Party, the Turkmen Front and a number of Arab forces who considered the session to be contrary to political agreements and outside the framework of holding the council inside Kirkuk.

Since then, the Democratic Party has continued its boycott of council meetings, asserting that its position represents an extension of its objection to the outcomes of the “Al-Rashid Hotel Agreement” and its non-recognition of the mechanism by which the power-sharing process in the province was managed.

In April 2026, the rotation of positions agreement was implemented, with Ribwar Taha resigning and Mohammed Samaan being elected governor of Kirkuk, but the Kurdistan Democratic Party renewed its boycott of the session.

Shafaq.com

Iraq’s reliance on oil revenues fell to 84% in five months

Official data from the Iraqi Ministry of Finance, released on Monday, showed that the contribution of oil revenues to financing the federal budget during the first five months of 2026 fell to 84%, compared to 91% during the same period in 2025, while the contribution of non-oil revenues rose to 16%. IraqPolitics News

According to the ministry’s report, which was reviewed by Shafaq News Agency, the total revenues of the federal budget until the end of May 2026 amounted to about 33.747 trillion dinars, compared to 46.157 trillion dinars during the same period of 2025, a decrease of 12.410 trillion dinars, and a decline rate of about 26.9%.

Oil and mineral revenues amounted to 26.946 trillion dinars by the end of May 2026, compared to 41.931 trillion dinars in the same period last year, a decrease of 14.985 trillion dinars, or about 35.7%.

In contrast, non-oil revenues rose to 6.477 trillion dinars, compared to 4.226 trillion dinars in the same period of 2025, an increase of 2.251 trillion dinars, and a growth rate of about 53.3%, raising its contribution to total revenues from 9% to 16%.

The data showed an improvement in most non-oil revenue sources, as taxes on income and wealth increased from 574 billion dinars to 635.6 billion dinars, commodity taxes and production fees increased from 1.028 trillion dinars to 1.440 trillion dinars, fees increased from 434 billion dinars to 486.6 billion dinars, while the budget’s share of public sector profits increased from 660 billion dinars to 1.242 trillion dinars.

The report indicated that total oil revenues for 2026 amounted to 27.270 trillion dinars, including 2.090 trillion dinars representing oil revenues delivered from the Kurdistan Region to the state treasury after accounting adjustments.

The comparison between the two years shows that the decline in total revenues is mainly due to the decline in oil revenues, while the remarkable growth in non-oil revenues contributed to raising their contribution to the budget resources, with oil revenues continuing as the main source of financing the public treasury.

Shafaq.com

A fuel crisis hits Iraq… and an expert confirms: generators and declining production are behind the shortage.

The Iraqi capital, Baghdad, is experiencing a shortage of kerosene after a number of gas stations experienced a lack of supply, causing vehicles to queue up in front of the stations to obtain the fuel, amid confirmations that high demand and a decline in local production are behind the crisis. DailyNews Reports

Meanwhile, energy expert Assem Jihad confirmed that the shortage of kerosene is due to increased domestic demand coinciding with increased consumption of private generators during the summer, as well as a decline in production quantities in a number of oil refineries, which has led to a widening gap between production and consumption.

Jihad told Shafaq News Agency that the government provides quantities of “kerosene” free of charge to private generators as part of a program to support the supply of energy to citizens, in addition to meeting the needs of other sectors that depend on this material, which has raised the levels of demand significantly, at a time when local refineries have not been able to meet the full need due to the limited production capacity, as well as the maintenance work that some refining units are witnessing.

He added that the Ministry of Oil resorted to importing quantities of “kerosene” to compensate for the shortage and ensure the continued supply of private generators and local markets, stressing that this step comes to maintain the stability of supplies and prevent a shortage of the material, especially with the rise in electrical loads and the increased reliance on generators during the summer months.

Jihad pointed out that importing “kerosene” is a temporary measure until the production of local refineries increases and the development projects of the refining sector are completed, which will contribute to enhancing self-sufficiency and reducing the need for imports in the future.

In Anbar, the mayor of Habbaniyah district, Ali Dawood Suleiman, chaired a meeting that included the director of the Habbaniyah Oil Unit and oil derivatives transporters, in the presence of the director of economic crime, a representative of national security and a representative of the district police, to discuss mechanisms for distributing oil derivatives and regulating the work of transporters.

Salman, in a statement received by Shafaq News Agency, pointed to the need to adhere to the applicable regulations and instructions, stressing the importance of ensuring the smooth distribution of “kerosene” and its arrival to all private generators according to the approved mechanisms.

He also directed the Judicial Police, National Security and the Economic Crime Directorate to intensify monitoring of the work of oil derivatives transporters and their distribution mechanisms, and to take legal action against anyone proven to be involved in monopoly or manipulation.

Last June, the Ministry of Oil announced the release of the July quota of gas oil (“kerosene”) for private generators at a rate of 45 liters per (kW), free of charge, in implementation of the directives of the Prime Minister with the aim of supporting generator owners and easing the burdens on citizens during the summer season.

The ministry stated in an official statement that the oil products distribution company will be responsible for preparing the quotas, calling on generator owners to receive them from approved outlets, and to commit to operating the generators for citizens for no less than 20 hours a day in rotation with the national electricity, according to the approved regulations.

Shafaq.com

Iraq will be the third largest Arab exporter with $90 billion by 2025

Iraq ranked third among the largest Arab exporting countries in 2025, according to data from the World Trade Organization, reflecting the continued dependence of the Iraqi economy mainly on oil exports, despite their decline compared to the previous year.

Iraq’s exports reached approximately $93 billion in 2025, ranking it third among the largest Arab exporting countries, an indicator that reflects the continued pivotal role of Iraqi exports, particularly oil exports, in supporting foreign trade and the national economy.

The United Arab Emirates topped the list with exports of $707 billion, followed by Saudi Arabia with $311 billion, then Iraq in third place, while Qatar came in fourth with $89 billion, Kuwait in fifth with $72 billion, followed by the Sultanate of Oman with $55 billion.

Egypt recorded exports worth $51 billion, Morocco $50 billion, and Algeria $45 billion, while Libya came in tenth place with exports of $30 billion.

The data indicates that the Gulf states continued to dominate the list of the largest Arab exporters, supported by oil and gas exports, while Iraq maintained its position among the top ranks thanks to its oil exports, which represent the largest proportion of its total exports. MiddleEast Politics

Shafaq.com

United Nations: The Iraqi government has taken serious steps in combating corruption.

The United Nations program confirmed on Monday that the Iraqi government has taken serious steps in recovering assets and combating corruption. Yama Turabi, director of the “Combating Corruption and Promoting Arbitration” project at the United Nations program, stated in a statement to the official newspaper that “the anti-corruption program has witnessed serious and urgent steps from the government with regard to following up on asset recovery specifically.” MiddleEast Politics

He added that “Iraq can improve the gap between cases in which damage has been proven and the number of civil lawsuits, the procedural errors in them, and the lack of quality and continuity of legal representation,” noting “the need to consider the continuity of the payment approach and the non-finality of the ruling in some cases.”

Abdullah Al-Dardari, Regional Director for Arab States at the United Nations Development Programme, also stated: “We at the United Nations Development Programme have been working to support Iraqi institutions in this field over the past ten years.”

He added that “the aspects of cooperation included supporting the development of the National Strategy for Integrity and Combating Corruption, providing technical assistance in drafting pivotal legal reforms to reduce corruption, providing experts and equipment to the Iraqi Academy for Combating Corruption, organizing specialized training in this field for various entities, and facilitating the building of cooperative relationships, including agreement instruments with counterpart countries to enhance mutual legal assistance, extradition of those accused of corruption, and recovery of funds.”

He also explained that “achieving positive steps in combating corruption during the last decade has been reflected in a slight improvement in the relevant international indicators, as Iraq advanced on the Corruption Perceptions Index from rank 161/168 countries (with a score of 16 percentage points) in 2015 to rank 136/182 (with a score of 28 percentage points) in 2025.”

He emphasized “the current government’s commitment to completing this approach, given Iraq’s need to combat corruption as a fundamental means of enhancing the quality of public services, attracting investment, accelerating the pace of social and economic development, and increasing the efficiency of resource allocation in serving the people.” He continued, “From a developmental perspective, we must not view corruption from a narrow perspective that confines it to the theft of public resources that should have been allocated to investment in promoting development and achieving prosperity for the people, despite the enormity of this direct damage. Direct financial losses resulting from corruption worldwide are estimated at approximately $3.6 trillion annually, a value that is close to the size of the current financial gap in funding work to achieve the Sustainable Development Goals in the 2030 Agenda in all countries of the world.”

Burathanews.com

Government financial advisor: Government plan to raise non-oil revenues to 46 percent

The Prime Minister’s financial advisor, Mazhar Muhammad Salih, announced on Monday that the government has developed a plan to raise non-oil revenues to 46% within ten years. He indicated that the government is committed to increasing the private sector’s contribution to 54% of GDP. Salih told the official news agency that “the government’s fiscal policy for the next ten years aims to achieve economic stability and sustainable development by diversifying revenue sources and strengthening the role of the private sector in the national economy.” He added that “the fiscal policy has a pivotal planning path, with achieving the goals of economic stability and sustainable development at the forefront of its priorities. The government will continue to implement its tools and procedures through the federal budget by restructuring public expenditures and revenues, which will contribute to restructuring the real economy at the macro level.”

He added that “the financial path aims to achieve two main goals during the next ten years, the first of which is to diversify non-oil revenue sources to reach about 46% of total public revenues, compared to no more than 10% or less at the present time, while the second goal is to raise the contribution of the private sector to the gross domestic product from about 37% to 54% during the next decade.”

Saleh explained that “the financial plan stems from the conviction that diversifying public revenues and reducing the burdens imposed by a single-sector rentier economy go hand in hand with increasing the contribution of the private sector to the gross domestic product, because expanding the contribution of the private sector enhances the diversification of the national economy and increases opportunities for investment, production and employment.”

He also pointed out that “the principles and mechanisms of financial planning for the future of Iraq are based on gradually enhancing the added value produced by the private sector, which supports diversifying the structure of the gross domestic product and enhances the sustainability of economic growth.”

Saleh explained that “revitalizing the productive sectors, expanding the investment base, and implementing strategic projects with a direct impact on local development are key pillars for creating sustainable job opportunities and reducing unemployment rates to single digits, reaching about 3% of the total workforce, instead of its current level of 13%.”

He stressed that “the economic philosophy upon which the process of sustainable development and achieving stability in Iraq is based is based on an effective partnership between the state and the market, which ensures the integration of the public and private roles in building a diversified economy that is more capable of facing future challenges.”

Burathanews.com

Iraq Drilling Company: Rehabilitation of two oil wells in the Qurna and Zubair fields

The Iraqi Drilling Company announced on Monday the completion of the rehabilitation of two oil wells in the Qurna and Zubair fields. The company’s media office stated in a statement that “in implementation of the directives of the Minister of Oil, Basim Muhammad Khudair Al-Abadi, and with the follow-up of the Director General of the Iraqi Drilling Company, Muhammad Hantoush Asad Al-Azirjawi, the technical and engineering staff of the company completed the rehabilitation work of the oil well WQ1-233 in the West Qurna/1 field, at a depth of 2536 meters, using the IDC-32 rehabilitation device.” IraqEconomic Reports

He also explained that “the company’s staff completed the reclamation of the ZB-402 oil well in the Zubair oil field, at a depth of 3,511 meters, using the IDC-47 reclamation device.” Al-Azirjawi continued, “This achievement reflects the company’s continued implementation of well reclamation work according to the approved operational plans, and in line with the Ministry of Oil’s directives aimed at supporting production and enhancing the efficiency of operations in the oil fields.” He emphasized that “the company will continue to utilize its technical capabilities and national expertise to complete projects with the required quality and within the specified timeframes.”

He also confirmed that “this achievement is part of the company’s operational program to carry out well rehabilitation work according to the highest technical standards, which contributes to enhancing the efficiency of operational processes and supporting the Ministry of Oil’s plans to develop and sustain production.”

Burathanews.com