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A British institute expects Iraq's GDP to grow by 1.7%
Shafaq News/ The Institute of Chartered Accountants in England and Wales ICAEW expected that Iraq will record 1.7% as a growth rate in real GDP for 2021.
The institute mentioned in a report on economic developments in the Middle East during 2021, which was reviewed by Shafak News Agency; It is expected that "the real GDP of Iraq will grow by 1.7 percent during 2021," noting that "the highest growth rate of GDP in the Middle East will be witnessed by Iran, at 2.8 percent, followed by Kuwait by 2.5 percent, followed by Qatar 2.4 percent, and then Saudi Arabia 2.3 percent." The latest is the UAE, 1.6 percent.
He explained that "the growth of Lebanon's gross domestic product will witness a decline of 5.8 percent, and that the country will not recover before 15 years."
In its report, the institute added that "the future prospects for the Middle East have improved in the past few months, with the pace of recovery accelerating in the third quarter, supported by advances in vaccines, the easing of virus-related restrictions and increased oil production," expecting that "regional GDP for the Middle East will grow by 2.6%." This year".
He pointed out that “the demand for oil is trending upwards globally amid the decline in Corona virus infections, the high vaccination rates, and the easing of closure restrictions, and at the same time, the OPEC + group moves the oil supply trends to gradually increase production every month until December 2022, finally.” He stressed that "high oil production should provide a boost to Iraq's economy and financial resources."
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The institute mentioned in a report on economic developments in the Middle East during 2021, which was reviewed by Shafak News Agency; It is expected that "the real GDP of Iraq will grow by 1.7 percent during 2021," noting that "the highest growth rate of GDP in the Middle East will be witnessed by Iran, at 2.8 percent, followed by Kuwait by 2.5 percent, followed by Qatar 2.4 percent, and then Saudi Arabia 2.3 percent." The latest is the UAE, 1.6 percent.
He explained that "the growth of Lebanon's gross domestic product will witness a decline of 5.8 percent, and that the country will not recover before 15 years."
In its report, the institute added that "the future prospects for the Middle East have improved in the past few months, with the pace of recovery accelerating in the third quarter, supported by advances in vaccines, the easing of virus-related restrictions and increased oil production," expecting that "regional GDP for the Middle East will grow by 2.6%." This year".
He pointed out that “the demand for oil is trending upwards globally amid the decline in Corona virus infections, the high vaccination rates, and the easing of closure restrictions, and at the same time, the OPEC + group moves the oil supply trends to gradually increase production every month until December 2022, finally.” He stressed that "high oil production should provide a boost to Iraq's economy and financial resources."
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