The International Monetary expects significant growth in the Iraqi economy and a decline in inflation in 2022
The International Monetary expects significant growth in the Iraqi economy and a decline in inflation in 2022
Wednesday October 13, 2021 | 01:10 PM
The International Monetary Fund expected a significant growth in the Iraqi economy to reach 10.5 percent in 2022, and a decrease in the inflation rate to 4.5 percent .
The fund said in its annual report for the month of October 2021 on its economic forecasts that the gross domestic product is expected to grow significantly, outperforming all oil-producing countries, to reach 10.5 percent, compared to 3.6 percent in 2021 and 15.7 percent in 2020 .
The fund added that the inflation rate in Iraq is expected to decrease in 2022 to 4.5 percent from 6.4 percent in 2021, after recording 0.6 percent in 2020 .
The IMF lowered its estimates of the current account balance for Iraq, suggesting that it would decline to 4 percent this year from 6.2 percent, compared to -10.8 percent in 2020 .
The Fund reduced its forecast for global growth in 2021 to 5.9 percent from 6 percent in July, while keeping its previous forecast for global growth in 2022 unchanged at 4.9 percent .
The Fund trimmed its estimates of growth in the United States and other major industrial countries this year, noting that supply chain bottlenecks and inflation pressures are constraining the global economic recovery from the Covid-19 pandemic.
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