International Monetary Fund: Iraq is making progress in non-oil GDP growth

International Monetary Fund: Iraq is making progress in non-oil GDP growth

2024 ,February 28

International Monetary Fund - Iraq is making progress in non-oil GDP growthThe International Monetary Fund confirmed on Wednesday that Iraq has achieved progress in non-oil GDP growth.

A statement from the Ministry of Finance received by Al-Rabaa stated, “The Iraqi delegation, headed by Minister Taif Sami, held discussions with International Monetary Fund experts within the framework of Article Four consultations, held in the Jordanian capital, Amman, during the period from 27 to 29 February.”

The statement explained, “The discussions focus on the reform program for the Iraqi economy and the steps adopted by the Iraqi government towards strengthening financial and banking policy, digital infrastructure, financial inclusion, and public debt issues, in addition to the measures taken to mitigate the repercussions of international conflicts and their effects on the economy.”

He continued, “During the consultations, the delegation will hold discussions related to a road map towards increasing non-oil revenues and enhancing coordination between financial and monetary policies in Iraq, in addition to defining joint work programs that include the IMF providing the necessary technical and advisory support for the economic reform adopted by the Iraqi government to achieve financial stability.” and cash, improving the level of financial planning for budgets and the continuity of implementation of important development projects.”

According to the statement, the Fund’s expert mission praised “the government measures to improve the business climate and stimulate the investment environment,” noting that “Iraq is making progress in the growth of non-oil domestic product and strengthening public financial management.”

She pointed to “the importance of maintaining economic stability and supporting social protection, praising the remarkable progress in maintaining economic and financial stability, as represented by lower inflation rates and an improved balance of payments, as well as stimulating economic diversification and creating job opportunities led by the private sector.”