Tag Archives | gdp

Iraqi Economy to Shrink in 2014

By John Lee. A new report from the International Monetary Fund says that Iraq's economy is expected to shrink by 2.7 percent this year as a result of the security crisis in the country. This follows a 4.2 percent growth in GDP in 2013 and 10.3 percent the previous year, and would be the first […]

GDP to Shrink this year, then Recover

By John Lee. A new report from the International Monetary Fund (IMF) has forecast that the Iraqi economy will contract this year due to continuing war against the Islamic State. In its October World Economic Outlook, it says that Iraq's gross domestic product (GDP) is expected to shrink by 2.66 percent this year, down from […]

Poverty and Unemployment Not Being Addressed

By Layth Mahdi, Agricultural Advisor. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Poverty and Unemployment Not Being Addressed in the Coming Iraqi Elections Iraq's poverty and unemployment is increasing every year despite the Government's efforts to implement programs to lower it. The United […]

CBI Expects 9% Growth, Reserves of $105-$110bn

By John Lee. The Acting Central Bank Governor, Abdul-Basit Turki, has told Reuters that Iraq’s economy should grow 9 percent this year, as it increases its oil production. He also predicted international currency reserves of between $105 billion and $110 billion by the end of this year. Central Bank predictions for last year were for […]

Double-Digit Growth Forecast for Iraq

While much of the developed world struggles to drag itself out of recession, Iraq managed to register real GDP growth of 9.9% last year, according to IMF estimates. Their projection for this year is 11.1 percent, followed by 13.5 percent next year, giving compounded growth over the three years of nearly 40%. Iraq may have […]

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Iraq to Grow 36% in Three Years

The World Bank says it expects Iraq's gross domestic product (GDP) to grow by 12.6 percent in 2012, and 10.2 percent in 2013, following a growth of 9.6 percent last year. If achieved, this would give a compound growth of 36 percent in just three years. This follows a downward revision of growth expectations for […]

Stable Currency Key to Iraq's Success

At the 'Iraq: Untapped Opportunities' conference in London last week, the Deputy Prime Minister with responsibility for energy, Dr Hussain al-Shahristani (pictured), said he expects Iraq's rate of economic growth to increase in the coming years, partly as a result fo the country's "generous benefits, guarantees and exemptions". He said that the country has averaged […]

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Petro Dollars to Boost Agribusiness in Iraq

By Layth Mahdi, Agricultural Advisor. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq is predominantly an agricultural country. It has a great diversity of climate, soil types, and natural resources. In the 1950’s, Iraq was self-sufficient in agriculture and the number one exporter […]