Iraq Economic Overview

Annual inflation in Iraq is now 6.3%, according to government figures. It is likely this is due to rising commodity prices.

Government receipts for oil in the last quarter were up 19% to US$20bn, the highest since before the Iraq War began.

The dinar was unchanged versus the dollar during the quarter.

The International Monetary Fund congratulated Iraq for its fiscal and monetary policies.

It appears that prime minister Nouri al-Maliki is taking a hard line to cut corruption in the financial industry, in order to get lending to businesses going. Maliki sacked the chairman of a major state-owned bank, the Trade Bank of Iraq, last quarter and announced an investigation into corruption.

(Source: Government of Iraq statistics; IMF)

One Response to Iraq Economic Overview

  1. Stew August 2, 2011 at 5:03 pm #

    LOL… I would be careful about who you use as a source.
    While they are correct here… Currency News Hound is the same site that has “The web’s only RV-O-Meter” for the Iraqi dinar. It’s been pegged at 99% “prepare for cashin” for years now.