Iraq Yields $100 Mn in Revenues after Expelling Militias from Frontier

Iraqi Prime Minister Mustafa al-Kadhimi at Mandali border crossing between Iraq and Iran (Reuters)
Iraqi Prime Minister Mustafa al-Kadhimi at Mandali border crossing between Iraq and Iran (Reuters)
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Iraq Yields $100 Mn in Revenues after Expelling Militias from Frontier

Iraqi Prime Minister Mustafa al-Kadhimi at Mandali border crossing between Iraq and Iran (Reuters)
Iraqi Prime Minister Mustafa al-Kadhimi at Mandali border crossing between Iraq and Iran (Reuters)

Iraq's Border Ports Authority announced record financial revenues from customs duties as a result of the measures taken by the government of Prime Minister Mustafa al-Kadhimi at all border crossings to combat customs corruption, impose order and expel armed factions from the country's frontier.

Head of Iraq's Border Ports Authority Omar al-Waeli said the revenues amounted to $100 million in July despite customs exemptions on several goods and closure of the outlets due to the coronavirus pandemic.

He indicated that the revenues came from seven or eight crossings out of Iraq’s 21, stressing that the authority intends to achieve more revenues to support the state treasury in light of the country’s financial issues.

During his visit to Mandali crossing with Iran last month, Kadhimi vowed to pursue the “ghosts” who were transporting cargo trucks across the border without paying customs fees.

He ordered a team from the Emergency Response Division to take over the crossing, saying they are authorized to use live fire to stop anyone from attacking people working at the border.

Meanwhile, an informed source at the Ports Authority confirmed that the measures taken by the government have made a total difference in terms of increasing the financial revenues achieved and imposing the law.

Speaking to Asharq Al-Awsat, the source said that units of the armed factions were present at the ports under the pretext of supervising religious groups arriving from Iran during the pilgrimage season, but their presence became permanent.

They used the ports for trade operations, customs clearance, and illegally imposing fees and royalties, he added.

The source said that the government recently expelled all the factions and groups working outside the customs area, and dismissed several employees cooperating with those groups.

He also said he expects the revenues to increase in the coming months compared to previous years, noting that over half of the border ports are shut due to the COVID-19, and operating crossings are not at full capacity.



UN Predicts World Economic Growth to Remain at 2.8% in 2025

A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)
A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)
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UN Predicts World Economic Growth to Remain at 2.8% in 2025

A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)
A vegetable vendor sits beside a bonfire on his handcart on a cold winter evening in New Delhi on January 6, 2025. (Photo by Sajjad HUSSAIN / AFP)

Global economic growth is projected to remain at 2.8% in 2025, unchanged from 2024, held back by the top two economies, the US and China, according to a United Nations report released on Thursday.

The World Economic Situation and Prospects report said that "positive but somewhat slower growth forecasts for China and the United States" will be complemented by modest recoveries in the European Union, Japan, and Britain and robust performance in some large developing economies, notably India and Indonesia.

"Despite continued expansion, the global economy is projected to grow at a slower pace than the 2010–2019 (pre-pandemic) average of 3.2%," according to the report by the UN Department of Economic and Social Affairs.

"This subdued performance reflects ongoing structural challenges such as weak investment, slow productivity growth, high debt levels, and demographic pressures," Reuters quoted it as saying.

The report said US growth was expected to moderate from 2.8% last year to 1.9% in 2025 as the labor market softens and consumer spending slows.

It said growth in China was estimated at 4.9% for 2024 and projected to be 4.8% this year with public sector investments and a strong export performance partly offset by subdued consumption growth and lingering property sector weakness.
Europe was expected to recover modestly with growth increasing from 0.9% in 2024 to 1.3% in 2025, "supported by easing inflation and resilient labor markets," the report said.

South Asia is expected to remain the world’s fastest-growing region, with regional GDP projected to expand by 5.7% in 2025 and 6% in 2026, supported by a strong performance by India and economic recoveries in Bhutan, Nepal, Pakistan and Sri Lanka, the report said.

India, the largest economy in South Asia, is forecast to grow by 6.6% in 2025 and 6.8% in 2026, driven by robust private consumption and investment.
The report said major central banks are likely to further reduce interest rates in 2025 as inflationary pressures ease. Global inflation is projected to decline from 4% in 2024 to 3.4% in 2025, offering some relief to households and businesses.
It calls for bold multilateral action to tackle interconnected crises, including debt, inequality, and climate change.
"Monetary easing alone will not be sufficient to reinvigorate global growth or address widening disparities," the report added.