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 […]
Tag Archives | Growth
Economic Reform: The Need for Focus and Persistence
By Ali Al-Mawlawi, for the Italian Institute for International Political Studies (ISPI). Any opinions expressed are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Economic Reform in Iraq: The Need for Focus and Persistence Iraq is facing the biggest challenge to its economy since 2003. Even during the […]
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 […]
IMF Predicts Strong Recovery for Iraq in 2021
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. It says: "The COVID-19 pandemic is inflicting high and rising human costs worldwide, and the necessary protection measures are severely impacting economic activity. […]
Market Review: “IMF Revises Growth Estimates Higher”
By Ahmed Tabaqchali, CIO of Asia Frontier Capital (AFC) Iraq Fund. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. The market’s action in July was so quiet that it turned activities like watching paint dry into spectator sports, as the start of the peak […]
IMF: Non-Oil Growth to Increase to 5.4%
IMF Staff Completes 2019 Article IV Mission on Iraq An International Monetary Fund (IMF) team led by Gavin Gray visited Amman from April 26 to May 2, to hold discussions with the Iraqi authorities in the context of the 2019 Article IV Consultation. At the end of the visit, Mr. Gray made the following statement: […]
Iraq GDP Growth to Hit 8.1%
By John Lee. A new report from the World Bank Group forecasts real GDP growth (at constant market prices) of 2.8 percent this year in Iraq, increasing to 8.1 percent next year: Iraq’s economy is gradually picking up following the deep economic strains of the last four years. Real GDP is estimated to have grown […]
Iraq's GDP to Grow 4.1%
By Editor on 13th December 2018 in Construction & Engineering In Iraq, Investment, Iraq Industry & Trade News, Iraq Oil & Gas News, Politics
By John Lee. GDP growth in Iraq is expected to hit 4.1 percent in 2019, up from 2.8 percent this year, acccording to data from Moody's. The gain is based on an expectation of oil prices averaging $75 per barrel, and would be the highest level since 2016’s 13.1 percent expansion. The National quotes the […]
Iraq at a Crossroads – Restoring Security and Economic Growth
By Dr. Layth Mahdi. The opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraq at a Crossroads – Will the New Government Succeed in Restoring Security and Economic Growth Iraq is experiencing a severe socio-economic crisis due to the country’s inability to develop and implement […]
Economy to Grow 1.5% in 2018, 4.5% in 2019
By John Lee. The Iraqi economy is forecast to grow 1.5 percent in 2018, according to a report from BMI Research, a unit of rating agency Fitch. It goes on to predict that the economy will jump 4.5 percent in 2019 as a result of reconstruction efforts. (Source: MENAFN)
Sharp Recovery in Non-Oil GDP Predicted
By John Lee. The International Monetary Fund (IMF) has predicted average growth of 3.1 percent annually in Iraq's non-oil real GDP until the end of 2022. This compares to an average fall of 7.2 percent per annum from 2014 to 2016, following the insurgency by the Islamic State group (IS, ISIS, ISIL, Daesh). It also […]