By John Lee.
In its latest World Economic Outlook (WEO), the International Monetary Fund (IMF) has forecast a sharp slowdown in Iraq's economy this year, followed be a strong recovery in 2021.
"The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity.
"As a result of the pandemic, the global economy is projected to contract sharply by -3 percent in 2020, much worse than during the 2008-09 financial crisis."
Following a 3.9-percent increase in Iraq's real GDP in 2019, it predicts a fall of 4.7 percent this year, and growth of 7.2 percent next year.
Consumer price inflation is expected to be 0.8 percent in 2020 and 1.0 percent in 2021.