The World Bank expects a slowdown in economic growth in Iraq
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The World Bank expected a slowdown in the rate of economic growth in Iraq during the years 2023 and 2024.
The bank said in a report that “the growth rate in the Middle East and North Africa region is expected to slow down to 3.5% in 2023 and 2.7% in 2024,” noting that “the slowdown is due to the decline in the boom achieved by the oil-exporting countries, as it is Growth is expected to slow down from 6.1% in 2022 to 3.3% in 2023 and 2.3% in 2024.
He pointed out that "growth in Iraq is expected to slow to 4% in 2023 and to 2.9% in 2024, lower than pre-pandemic levels," noting that it is likely that "a shortage of water and electricity supplies, in addition to what the country is witnessing, will Political instability and violence hampered its efforts to achieve stronger growth rates.
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