Tag Archives | gdp

IMF: Iraq Economic Activity is Recovering

By John Lee. A team of the International Monetary Fund (IMF) has concluded a visit with Iraqi officials, concluding: Economic activity is recovering, although oil production cuts are weighing on overall growth, and at the same time inflation has declined. The large fiscal expansion in the three-year budget law poses significant risks to fiscal and […]

World Bank Revises Down Iraq GDP Growth

By John Lee. The World Bank has revised down its estimates for growth in Iraq. In its MENA Economic Update (previously known as MENA Economic Monitor), it says the forecast for GDP growth in Iraq for 2023 has been updated to -2.3 percent, 5.1 percentage points less than the forecast in April 2023, and significantly […]

World Bank Corrects Iraq Debt-to-GDP Ratio in Report

From the World Bank: Statement on the Iraq Economic Monitor Spring/Summer 2023 The World Bank identified an error in the reporting of debt data for 2022 and projections for ensuing years reported in the recently published Iraq Economic Monitor (IEM) Spring/Summer 2023 issue. As a result, the debt-to-GDP ratio in 2022 was corrected from 53.8 […]

Without Reforms, Iraq's Oil Boom Could Turn to Bust -- World Bank

From the World Bank: Without Reforms, Iraq's Oil Boom Could Turn to Bust Iraq's economy continued its oil-driven recovery after the sharp pandemic-induced recession in 2020, but non-oil sectors have stagnated, and growth constraints have reemerged. Despite a record oil windfall and a long-awaited new budget, Iraq nevertheless remains at risk of missing the opportunity […]

Iraq's Tech Ecosystem "offers Bright Spot"

By Hassan Jivraj for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq's tech ecosystem offers bright spot for private sector Despite numerous regional and country-specific challenges, Iraqi start-ups had a good year. Click here to read the full article.

Iraq: A New Opportunity to Reform

From the World Bank: Iraq Economic Monitor, Fall 2022: A New Opportunity to Reform The World Bank's new Iraq Economic Monitor, A New Opportunity to Reform finds that high oil prices have boded well for Iraq's economy pushing fiscal and external balance into double digit surpluses. After growing by 2.8 percent in 2021, GDP growth […]