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Iraq and Egypt are the highest growing Arab economies in 2023
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Economy News _ Baghdad
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Added 04/17/2023 - 10:42 AM
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Economy News _ Baghdad
The International Monetary Fund expected today, Monday, that the Iraqi and Egyptian economies will achieve the highest growth in 2023.
And a schedule of the fund, seen by Al-Iqtisad News, showed that "the gross domestic product of Iraq and Egypt is expected to grow by 3.7% during the year 2023, and they will achieve the highest economic growth among the Arab countries," noting that "the economic growth of Iraq will decrease in 2024 to 3.1% While Egypt's economic growth will rise in the same year to 5%.
The fund added, "It is expected that" consumer prices in Iraq (inflation) will rise to 6.6% in 2023 from 5% in 2022, while they will decrease in 2024 to 1.6%.
He pointed out that "Iraq's current account is also expected to achieve 4.4%, down from 2022, which amounted to 11.6%," noting that it is expected to "achieve a deficit in 2024 of 2.5%."
What is meant by the current account of a country is the value of exports and imports of both goods and services and international transfers of capital.
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Added 04/17/2023 - 10:42 AM
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