IMF Revises Down GDP Forecast

By John Lee.

The International Monetary Fund (IMF) has revised down its forecast GDP growth for Iraq from 0.5 per cent to a contraction of 3.1 per cent this year, due to the oil production cuts agreed within OPEC.

Forecasts for 2018 and 2019 are 2.6 percent and 1.6 percent growth respectively.

Consumer price inflation is expected to run at a steady 2 percent per annum over the coming three years.

(Sources: IMF, The National)

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