
Financial crisis cripples Erbil's businesses
Also in Kurdistan
Yazidi victim of ISIS atrocity reunited with family
Kurdish farmer defies skeptics with successful ostrich farm
Erbil river at risk of drying up
Kidnapped at 13, Yazidi woman reunited with family in Duhok
A+ A-
The Iraqi government's recent decision to halt the payment of the Kurdistan Region's share from the federal budget has severely affected businesses in the Region, including Erbil. Kurdistan has over one million civil servants. The Iraqi government claims that the Kurdish government has failed to transfer all oil and non-oil revenues. A high-profile Iraqi delegation is set to visit Erbil to resolve the issue.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Iraqi News
2 hours ago
- Iraqi News
Iraq's economy to grow by 4.1% in 2025
Baghdad ( – The International Monetary Fund (IMF) projected on Sunday that Iraq will rank fourth among Arab oil-producing countries in terms of economic growth in 2025. According to data revealed by the IMF, the Iraqi economy is expected to grow by 4.1 percent compared to 0.1 percent in 2024, Shafaq News reported. Libya will have the highest economic growth rate, at 13.7 percent, followed by the UAE at 5.1 percent, Saudi Arabia at 4.6 percent, and Algeria at four percent, according to the IMF. In early May, the IMF reduced its growth projections for Middle Eastern and North African oil-exporting countries, including Iraq and Saudi Arabia. The IMF lowered its 2025 projection for the region's oil exporters to 2.3 percent, which was 1.7 percentage points less than the fund's October prediction, according to the Financial Post. The World Bank expected in mid-June that the Iraqi economy would grow by 1.2 percent in 2025, rebounding from a contraction of -1.5 percent in 2024. According to a World Bank analysis, Iraq's economic growth is predicted to peak at 4.4 percent in 2026 before falling to 3.1 percent in 2027. The World Bank Country Director for the Middle East Department, Jean-Christophe Carret, confirmed in March the bank's commitment to helping Iraq meet its development objectives. With an emphasis on sustainable development, the World Bank places a high priority on strengthening Iraq's capacity to handle economic and development difficulties, according to Carret.


Shafaq News
2 hours ago
- Shafaq News
Iraq seeks global support to overcome legacy of war
Iraqi President Abdul Latif Rashid called for stronger international support to help Iraq overcome decades of conflict and economic setbacks, while highlighting the country's recent developmental progress during a speech at the Fourth International Conference on Financing for Development, held Monday in Seville, Spain. Addressing a global audience, Rashid said the conference convenes amid 'complex international and regional conditions,' marked by widespread wars, political instability, and economic crises, particularly in the Middle East. 'These challenges are undermining development efforts worldwide and demand intensified global cooperation to end ongoing conflicts,' he said. Rashid outlined Iraq's long struggle with the aftermath of authoritarian rule, regional wars, international sanctions, and erratic economic policies that left the country's infrastructure underdeveloped and its economy weakened. 'For over half a century, Iraq suffered from internal and external wars, economic isolation, and unplanned policies. Today, however, the country is witnessing clear progress in both security and economic fields,' he noted. He emphasized that Iraq needs deeper engagement with the international community to support reconstruction and improve citizens' living conditions. 'We are committed to comprehensive plans for reconstruction and service delivery, but this path requires global partnership.' The president highlighted Iraq's launch of its new Five-Year Development Plan (2024–2028), which is directly aligned with the United Nations Sustainable Development Goals (SDGs). He also cited the successful completion of Iraq's first general population and housing census in 37 years as a milestone in planning and equitable resource distribution. 'Infrastructure development is now underway across critical sectors,' Rashid said, pointing to major projects in health, education, water, sustainable energy, transport, communications, agriculture, industry, and tourism. He added that Iraq has prioritized environmental issues, adopting policies to combat climate change, including renewable energy initiatives, smart agriculture programs, reforestation campaigns, and desertification mitigation efforts. 'Much work remains, but this is a vital file for our future,' he said. Rashid also underscored Iraq's expanding partnerships with international organizations and UN agencies, reaffirming the country's growing diplomatic and developmental presence. 'Iraq currently chairs the Group of 77 and China for 2024, signaling its return as a key regional and global actor in development coordination,' he said. The Iraqi government, he added, has launched structural reforms to improve the likelihood of achieving the SDGs. These include embedding the 2030 Agenda into national planning documents such as the five-year strategy and establishing dedicated SDG units within ministries and agencies. 'We are building a foundation for sustainable growth,' Rashid concluded, 'but moving forward will require solidarity, resources, and sustained international cooperation.'


Shafaq News
2 hours ago
- Shafaq News
Iraq reclaims Mesopotamian artifacts in Turkish handover
Shafaq News – Ankara/Baghdad On Monday, Iraq's embassy in Ankara received six ancient clay tablets dating back to the Mesopotamian civilization, marking the latest recovery of looted antiquities through diplomatic cooperation. The handover took place during an official ceremony at the Republic Museum in the Turkish capital, attended by Iraqi Ambassador Majid Al-Lajmawi, Turkish Deputy Minister of Culture and Tourism Gokhan Yazgi, and a number of diplomats and officials from both countries. Al-Lajmawi noted that these tablets bear witness to Mesopotamia's contributions to writing, governance, and administrative systems from the dawn of civilization. For his part, Yazgi underscored Turkiye's adherence to international conventions on protecting cultural property, reaffirming the coutries continued support for Iraq's efforts to reclaim looted heritage. Iraq's antiquities have long been vulnerable to looting and smuggling, particularly during periods of conflict such as the 2003 US-led invasion and the rise of ISIS. Many artifacts were trafficked through neighboring country's, including Turkiye, which served as a transit route or temporary destination in the illicit antiquities trade. In recent years, Iraq has launched a concerted campaign to repatriate its cultural heritage, working with international partners and organizations like UNESCO to identify, recover, and return stolen artifacts. These efforts have led to the restoration of thousands of pieces, including tablets, statues, and relics from Iraq's ancient civilizations.