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He added that "Iraq increased its real GDP in 2019 to 3.9%, but it is expected that this year will decrease by 4.7%, while next year 2021 will grow significantly by 7.2%."
He expected that "consumer price inflation in Iraq will reach 0.8% in 2020 and 1.0% in 2021."
He pointed out that "the pandemic of COVID-19 will cause human costs to rise and rise all over the world, and the necessary protection measures severely affect economic activity."
He noted that "as a result of the epidemic, the global economy is expected to contract sharply by -3% in 2020, which is much worse than it was during the 2008-2009 financial crisis."