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[size=30]2021.. Iraq's economic growth of 3.6%.. What is the explanation for achieving the highest growth among the Gulf countries?
2021-11-21
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Yes Iraq: Baghdad
The International Monetary Fund expected that Iraq will achieve the highest economic growth among the Arab Gulf states during the year 2021, at 3.6%, while growth is also expected to jump in 2022 to record 10.5%, in indicators that the IMF did not explain the reasons for.
According to a recent schedule issued by the Fund, "It is expected that Iraq will achieve economic growth for the year 2021, higher than the rest of the oil-rich Arab Gulf countries, by 3.6%."
On the other hand, Saudi Arabia is expected to witness an economic growth of 2.8%, Oman to witness an economic growth of 2.5%, Qatar to witness an economic growth of 1.9%, Kuwait to witness an economic growth of 0.9%, and the UAE to witness an economic growth of 2.2%.
While Jordan is expected to witness an economic growth of 2%, Iran an economic growth of 2.5%, and Turkey an economic growth of 9%, noting that Yemen will witness a decline in its economic growth for the year 2021 by 2%.
He pointed out that "Egypt will witness an economic growth of 3.3% for 2021, and the Maghreb countries will witness a rise in economic growth, as Tunisia is expected to witness an economic growth of 3%, Algeria will witness an economic growth of 3.4%, and Morocco will witness an economic growth of 5.7%."
Earlier, the International Monetary Fund expected greater growth of the Iraqi economy in 2022, to reach 10.5 percent in 2022.
The fund said in its annual report for the month of October 2021 that the gross domestic product is expected to grow significantly, outperforming all oil-producing countries, to reach 10.5 percent, compared to 3.6 percent in 2021 and 15.7 percent in 2020.
For his part, the economic expert, Bariq Shubra, explains the issue of Iraq achieving the highest growth among the Gulf countries, as it was measured compared to 2020, in which Iraq witnessed a significant decline.
In a clarification he followed, "Yes Iraq", an inch said, "The expected growth rate of the Iraqi economy at 3.6% does not have a high statistical significance, because the base year, that is, in 2020, the gross domestic product decreased by no less than 6%, as mentioned." And he indicated that "this means that the level of GDP in 2021 will remain below the level of 2019, and other than that, the source of the expected growth in this year is the improvement in oil prices, not the non-oil productive sectors."
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