Statement from the Central Bank of Iraq: Daily Oil Transit Reaches 2.5 Million Barrels
Central Bank of Iraq official Sameer Fakhri Nima announced that the average daily oil transit this month is 2.5 million barrels and that foreign exchange reserves will be sufficient to finance imports.
Sameer Fakhri Nima, Director General of the Statistics and Research Department at the Central Bank of Iraq, announced at the MERI Forum 2026 that the average daily oil transit this month reached 2.5 million barrels and that Central Bank reserves can finance imports for more than a year.
Oil Exports and Economic Situation
Sameer Fakhri Nima, Director General of the Statistics and Research Department at the Central Bank of Iraq, stated that oil exports have experienced flexibility in the last two months. Speaking at the MERI Forum 2026 in Erbil, the official stated that oil transit averaged 2.5 million barrels per day this month.
Noting that the Iraqi economy is largely dependent on oil revenues and external demand, Nima emphasized that government expenditures are also directly based on oil revenues.
Reserves and Dinar Status
Touching upon the reserve situation of the Central Bank of Iraq, Nima said that the bank is in a comfortable position and can finance the country's import bill for more than a year. He also drew attention to the decrease in external debt.
Nima stated that the coffers of the Central Bank are full of dinars, expressing that claims suggesting the institution lacks dinars do not reflect the truth under any circumstances.
Private Sector and Crisis Impacts
Stating that the private sector needs to grow to reduce the Iraqi economy's dependence on oil, Nima expressed his hope that this would also decrease the demand for the Central Bank's dollars.
Touching upon the effects of the economic crisis, Nima explained that the crisis began on February 28, but its felt effects emerged in the fourth month and thereafter.
Exchange Rate and Price Increases
Addressing the potential impacts of the exchange rate change on low-income segments, Nima argued that price increases will remain more limited than expected. He stated that the state will support certain basic goods.
Nima reiterated that the rate change will have an effect on impoverished segments, but thanks to state support, this effect will remain below expectations, and the rate of price increase will be lower than the rate of exchange rate change.