Tag Archives | gdp

IMF: Iraq's Non-Oil Real GDP expected to Rebound

The economy is recovering from last year's sharp contraction, helped by higher oil prices and easing of the containment measures. Non-oil real GDP is expected to rebound by 12 percent in 2021 while the fiscal and current account balances are expected to improve significantly. Higher oil revenues present the opportunity to tackle Iraq's significant vulnerabilities, […]

Iraq's Economic Outlook has Improved, but Risks Abound

From the World Bank: Iraq: Rising Fiscal Risks, Water Scarcity, and Climate Change Threaten Gradual Recovery from Pandemic Iraq's economic outlook has improved on the back of the recovery of global oil markets, with its GDP projected to grow from 2.6% in 2021 to over 6% in 2022-23. Nevertheless, without accelerated economic reform, unforeseen domestic […]

Iraq's Economic Update -- October 2021

From the World Bank: Economic growth is gradually recovering following last year's pandemic-related contraction, partly due to higher non-oil activity. Improved global oil market conditions are expected to reinforce growth in the medium term and turn the fiscal and external balances to surpluses from 2021, and to reverse the recent surge in debt. Latest Developments: […]

IOM highlights evolving Economic Needs in Iraq

IOM assessments highlight evolving economic needs under unprecedented impacts of COVID-19 in Iraq Necessary measures to contain the spread of COVID-19 combined with volatile oil prices and a decrease in the value of the Iraqi dinar brought an end to two years of sustained economic growth in Iraq, heavily impacting individuals and communities affected by […]

The Dutch Disease and Iraq's Foreign Exchange Rate

By Dr. Zeki Fattah, for The Iraqi Economists Network (IEN). Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The Dutch Disease and Iraq's Foreign Exchange Rate Economists who studied the reasons for the low per capita growth of GDP in developing countries that rely […]

What will it take to bring back Growth in Iraq?

By Bledi Celiku and Wael Mansour, for the Brookings Institution. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. The resource curse refers to the failure of resource-rich countries to reap benefits from their natural wealth. Resource-cursed countries tend to be more prone to conflict, […]

Breaking Out of Fragility: Diversification and Growth in Iraq

Breaking Out of Fragility: A Country Economic Memorandum for Diversification and Growth in Iraq Iraq is at a crossroads. Almost two decades after the 2003 war, the country remains caught in a fragility trap, facing increasing political instability, growing social unrest, and a deepening state-citizen divide. Amid a multitude of crises (including an oil price […]

A more Just, Prosperous and Resilient Iraq can Emerge: UN Envoy

Jeanine Hennis-Plasschaert briefed ambassadors on latest developments, including the appointment last week of new Prime Minister Mustafa al-Kadhimi, and the majority of his 22-member cabinet, following months of political infighting and stalemate. Although the pandemic has quieted months of corresponding protests, which saw Iraqis taking to the streets to call for an end to corruption, […]

IBBC contributes to World Bank Iraq Report

IBBC contributes to World Bank launch and assessment on Iraq Economic Monitor Iraq Economic Monitor - Spring 2020 - Navigating the Perfect Storm. The World Bank has released its latest report on Iraq entitled "Navigating the Perfect Storm" with a special focus on "Laying the Foundations for a New Economy in Iraq: Digital Transformation". See […]