Will Iraq be the the fast growing economy on earth?
Iraq need to improve its financial and legal infrastructure to attract investment, especially the financial services sector The Wall Street bank’s data shows that among all the major economies it tracks, Iraq will be the only country that will post double-digit-growth in 2012 – clocking a 10.5% improvement in GDP this year.
China will emerge as the world’s second fastest-growing economy this year, with 7.7% GDP growth. Meanwhile, the ten most important emerging markets will only grow at 5.5% this year, weighed down by problems in OECD economies, BAML data shows.
Iraq will post a slightly lower but still impressive 8.2% growth in 2013, beating China once again (which is forecast to grow 8.2% next year), to emerge as the fastest growing economy again, according to BAML calculations.
albawaba.com
