Iraqi economist: $47 billion disappears between the Central Bank and Customs
Iraqi economist: $47 billion disappears between the Central Bank and Customs
2025-11-22 08:52
Shafaq News – Baghdad
On Saturday, Iraqi economist Manar Al-Obaidi revealed a stark discrepancy of approximately $47 billion between financial transfers and customs data in 2024.
Al-Obaidi said in a statement received by Shafaq News Agency that “the 2024 data revealed a huge numerical paradox in the Iraqi economy, represented by a huge gap between what the Central Bank finances and what the border crossings record.”
He explained that “while the Central Bank announced that Iraq’s imports exceeded the $87 billion mark, with actual external transfers to cover them amounting to more than $80 billion, the data from the Iraqi Customs Authority came out completely different, as it recorded the entry of goods with a total value that did not exceed $39 billion.”
The economist pointed out that “this discrepancy, which exceeded $47 billion, was blatantly concentrated in specific sectors; the Central Bank financed imports of machinery and transport equipment worth $33.6 billion, while customs only recorded $14.8 billion, a difference of more than $18.7 billion in this item alone.”
According to Al-Obaidi, “a significant disparity also appeared in (miscellaneous manufactured goods), where the Central Bank covered imports worth $13.8 billion compared to a modest customs registration of only $2.2 billion.”
Accordingly, the economist believes that “in the face of this clear waste and ambiguity in the data, hopes are currently pinned on the (customs automation) project and the application of the unified global commodity classification at border crossings.”
Al-Obaidi concluded his remarks by stating that “digital transformation and precise networking are expected to bridge this gap and ensure that the movement of funds matches the movement of goods, which will enhance the efficiency of the state’s financial and regulatory system.”
shafaq.com
