Iraq exceeds the Arab countries in the growth rate .. IMF: GDP will reach 9.5%

by **Rocky** Sat 23 Apr 2022, 3:02 pm

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Iraq exceeds the Arab countries in the growth rate .. IMF: GDP will reach 9.5%

by Rocky Sat 23 Apr 2022, 3:02 pm

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Iraq exceeds the Arab countries in the growth rate .. IMF: GDP will reach 9.5%

Shafak News/ The International Monetary Fund expects; Iraq's GDP growth will reach 9.5% and annual inflation will reach 6.9% during 2022.
The fund said in a schedule it issued for the month of April, which was reviewed by Shafak News Agency; It is expected that Iraq's domestic GDP, which placed it under the category of oil-exporting countries, will grow by 9.5% and 5.7% for 2022 and 2023, respectively, exceeding all Arab oil-producing and non-oil-producing countries, indicating that GDP growth for 2021 It reached 5.9% during 2021.
He added, "The annual inflation in Iraq is expected to reach 6.9% during 2022, up from 6% during 2021, noting that inflation in Iraq is expected to decrease in 2023 to reach 4.7%."
The fund indicated that "it is expected that Iraq's current account balance will reach 15.8% and 10.1% during 2022 and 2023, respectively, up from 5.9% in 2021."
Fund experts expected that the GDP growth rate for the Middle East and Central Asia would be 4.6% in 2022 and 3.7% in 2023, and the annual inflation for the same region is expected to reach 12.8% in 2022 and 10.5% in 2023.
A positive current account balance indicates that the country is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower from the rest of the world, and a current account surplus increases the country's net foreign assets by the amount of the surplus, and a current account deficit reduces that amount.
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