Latest news with #Al-Obaidi
Shafaq News
16-05-2025
- Business
- Shafaq News
Baghdad plans new resorts to ease tourism demand
Shafaq News/ Baghdad's authorities began developing new resorts to accommodate Baghdad's rapidly growing population, an Iraqi official revealed on Friday. The head of the Iraqi Tourism Syndicate Mohammed Ouda Al-Obaidi told Shafaq News that the Syndicate had submitted studies to relevant bodies proposing the establishment of four tourism cities—each equipped with a range of entertainment options. He indicated that the proposed tourism zones, located near Baghdad's entry points, offer ample space for recreational development and easy access from neighboring provinces. 'This will reduce outbound travel, and help preserve Iraq's foreign currency reserves.' Domestic tourism demand typically surges with the start of the summer break for educational institutions, underscoring the need for structured plans and services to accommodate families, especially in the capital, he said, noting that Baghdad families usually visit Al-Zawraa Park, the Tourist Island, Lake Habbaniyah, and some of the new resorts. Al-Obaidi further stressed that existing recreational facilities are insufficient, which often leads to overcrowding during holidays, calling for the construction of large-scale parks and tourism cities to absorb this rising demand. Effective management and coordination among relevant authorities are essential to meet growing tourism demand, he emphasized, adding that collaboration with media outlets is also crucial to highlight Iraq's natural, cultural, and historical attractions—an effort that could draw visitors from neighboring countries and revitalize the tourism sector.
Shafaq News
02-05-2025
- Business
- Shafaq News
Billions lost in trade: Iraq's shrinking demand for Turkish imports
Shafaq News/ Iraq's imports from Turkiye dropped 13.7% in the first quarter of 2025 to $2.59 billion, down from $2.94 billion in the same period last year, the Iraq Future Foundation revealed on Friday. The foundation's head, Manar al-Obaidi, reported that 49 of 97 product categories recorded declines. Precious metals and gold showed the largest decrease, which he listed as 490%. Imports of wheat-based products fell 75%, meat 74%, iron 33%, flour 17%, and electrical appliances 8%. Grain imports rose 93%, fuel 76%, fruit 24%, mechanical equipment 9%, and furniture 8%. Al-Obaidi linked the drop to Turkish export restrictions, Iraq's product protection laws, border control measures, and new import delivery systems. Data from the Turkish Statistical Institute (TURKSTAT) placed Iraq as the fifth-largest importer of Turkish goods in the first quarter. Turkiye's total exports reached $65.32 billion, up 2.5% year-on-year, while imports rose 4.5% to $87.81 billion.
Shafaq News
09-03-2025
- Business
- Shafaq News
Lack of management: expert slams Iraq's "runaway" spending
Shafaq News/ Iraq's annual government spending has outpaced several stronger economies despite its continued reliance on oil and ongoing economic stagnation, according to Manar Al-Obaidi, head of the Iraq Future Foundation. Over the past decade, Iraq's total revenues reached 1,028 trillion Iraqi dinars ($784.4 million), with 92% derived from oil and only 8% from taxes, customs, and other sources. Meanwhile, government spending during the same period amounted to 1,007 trillion dinars ($768.4 million), along with unsettled advances ranging between 100-150 trillion dinars ($114.5 billion), pushing total expenditures beyond 1,100 trillion dinars (approximately $1 trillion). Despite its immense wealth, Iraq's $100 billion annual budget surpasses the expenditures of several diversified economies. The UAE spends $65 billion annually, Malaysia $82 billion, and Singapore $77 billion, yet all three nations have expanded their economies to achieve a GDP of $500 billion per year. Al-Obaidi noted that unlike Iraq, these countries lack vast natural resources and a large population, yet they have built thriving economies with significantly lower budgets. Iraq, by contrast, remains trapped in an oil-dependent economy, chronic financial mismanagement, and worsening unemployment. 'The problem has never been a lack of resources but rather how they are managed,' Al-Obaidi stressed, warning that Iraq's reliance on a rentier economy will continue to deepen its financial challenges unless urgent reforms are implemented. He called for diversification, efficient spending, and an end to financial waste to ensure long-term stability. He concluded that Iraq's success hinges on 'a stable government to improve development management.' Removing any element of that balancing act, he warned, would lead to systemic failure.
