Central Bank of Iraq sales exceed $1 billion last week
The total sales of hard currency by the Central Bank of Iraq for the US dollar during the days in which the auction was opened last week amounted to more than one billion dollars.
Shafaq News Agency correspondent stated that the Central Bank sold during the past week and for the 5 days in which the auction was opened, one billion, 445 million, 674 thousand, and 995 dollars, at a daily rate of 289 million, 134 thousand, and 999 dollars, higher than the previous week, which amounted to one billion, 163 million, 483 thousand, and 733 dollars.
The highest dollar sales were on Sunday, when sales reached 294 million, 490 thousand, and 36 dollars, while the lowest sales were on Wednesday, when sales reached 280 million, 371 thousand, and 985 dollars.
Our correspondent indicated that foreign remittance sales during the past week amounted to 1 billion, 387 million, 574 thousand, and 995 dollars, an increase of 97% compared to cash sales, which amounted to 58 million, 100 thousand dollars.
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Weekly decline in the Gold prices
Gold prices recorded a weekly decline, despite the increase in the last sessions of the week, supported by the decline of the dollar and US Treasury bond yields.
Gold reduced its weekly losses after economic data in the United States indicated a slowdown in inflation, but gold recorded a weekly decline after the US Federal Reserve indicated a slowdown in the pace of interest rate cuts during 2025.
During the past week, gold prices fell by 0.96 percent, reaching $2622.91 per ounce.
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PM Advisor: Government program aims to raise non-oil revenues to 20%
Saleh told the Iraqi News Agency (INA) that “there are two key factors driving the increase in non-oil revenues, which have seen a substantial shift in their role within the federal budget, as highlighted by Prime Minister Mohammed Shia’ al-Sudani.”
He explained that “the first factor is the growth in the non-oil GDP, which is approaching 6% annually. This represents a significant leap in the development of sectors outside the oil economy, including transportation, digital communications technology, housing, construction, infrastructure, agriculture, and industrial transformation.”
He further noted that “the second factor is the improvements in the federal budget’s non-oil revenues, driven by high discipline in tax and customs collection, the introduction of digital processes and automation, and the expansion of efforts to address previously untapped tax bases.”
Saleh emphasized that “the progress made aligns with the government’s program, which aims to gradually increase the share of non-oil revenues to 20% from less than 10%, in line with broader economic reforms.”
Saleh explained that “this goal is directly linked to the growth in non-oil GDP, as well as the expansion of traditional budget revenue sources, including direct and indirect taxes and various other government revenues. This creates a complementary relationship between financial sustainability and economic sustainability over time, which is one of the key objectives of the government program.”
Prime Minister Mohammed Shia’ al-Sudani had previously confirmed in a special interview on Iraqi News Channel, followed by INA, that “non-oil revenues have reached 14%, up from 7% previously.”
He also noted that “unemployment had dropped from 16.5% to 14.4%, while poverty levels were reduced from 23% to 17%.”
