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In 2022... Iraq's annual inflation is 4.5%, and an expert blames "real estate"
Shafaq News/ The International Monetary Fund expected Iraq's annual inflation to reach 4.5% during 2022, indicating that the highest annual inflation among Arab countries will be witnessed by Sudan, while an economic expert considered that the rise in real estate prices is a major factor for inflation in Iraq.
The fund said in its report for the month of October, which was reviewed by Shafak News Agency; It is expected that "the annual inflation rate in Iraq in 2022 will reach 4.5%, down from 6.4% in 2021."
He added, "It is expected that inflation rates will continue to rise in Arab countries during the year 2023, to be the highest in Sudan with an average annual inflation rate of 76.9%, and Yemen in second place at a rate of 17.1%, while Egypt comes in third place at a rate of 12%." Noting that "Lebanon has not been included in the table, which faces the highest inflation rate in the world."
He pointed out that "the least annual inflation expected to be witnessed by Arab countries is Saudi Arabia, at a rate of 2.2%, followed by Kuwait at a rate of 2.4%, and then Jordan at a rate of 3%."
for his part; The economic expert, Muhammad Al-Hasani, said in an interview with Shafaq News Agency, "The rise in real estate prices in Iraq is one of the most important factors behind the rise in inflation in Iraq, next to the prices of foodstuffs, which come in second place."
Al-Hasani added that "there has been a rise in real estate prices in Iraq two years ago, by more than 50%," noting that "loans granted by government banks to purchase housing units contributed to raising house prices, especially in the capital, Baghdad."
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The fund said in its report for the month of October, which was reviewed by Shafak News Agency; It is expected that "the annual inflation rate in Iraq in 2022 will reach 4.5%, down from 6.4% in 2021."
He added, "It is expected that inflation rates will continue to rise in Arab countries during the year 2023, to be the highest in Sudan with an average annual inflation rate of 76.9%, and Yemen in second place at a rate of 17.1%, while Egypt comes in third place at a rate of 12%." Noting that "Lebanon has not been included in the table, which faces the highest inflation rate in the world."
He pointed out that "the least annual inflation expected to be witnessed by Arab countries is Saudi Arabia, at a rate of 2.2%, followed by Kuwait at a rate of 2.4%, and then Jordan at a rate of 3%."
for his part; The economic expert, Muhammad Al-Hasani, said in an interview with Shafaq News Agency, "The rise in real estate prices in Iraq is one of the most important factors behind the rise in inflation in Iraq, next to the prices of foodstuffs, which come in second place."
Al-Hasani added that "there has been a rise in real estate prices in Iraq two years ago, by more than 50%," noting that "loans granted by government banks to purchase housing units contributed to raising house prices, especially in the capital, Baghdad."
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