World Bank: Iraq is among three countries that will record the highest economic growth in 2023
World Bank: Iraq is among three countries that will record the highest economic growth in 2023
2023-01-10 22:50
Shafaq News / The World Bank expects, on Wednesday, that three Arab countries, including Iraq, will witness the highest growth rate during the year 2023.
In a report seen by Shafaq News agency, the bank stated that “the growth of the countries of the region will decline during the current two years 2023 and the next 2024, to record 3.5% and 2.7%, respectively.”
Despite the decline in the economic growth of the Arab countries, the bank stated that “Egypt, the UAE and Iraq have the highest economic growth rate among the other Arab countries during the year 2023, as their growth is expected to exceed 4%, while the growth rate of the rest of the Arab countries will decrease to less than from 4%.
The World Bank suggested that the economic growth rate for Egypt would be 4.5%, the economic growth rate for the UAE would be 4.1%, and the economic growth rate for Iraq would reach 4%.
He pointed out that “economic growth is likely to decrease for Iraq and the UAE during the year 2024, to reach 2.9% and 2.3% for both countries, respectively, while the economic growth rate for Egypt will rise to 4.8%.”
The World Bank pointed out that “oil-exporting countries obtained unexpected gains thanks to the rise in crude and gas prices and the increase in the volume of production, which was reflected in achieving an increase in gross domestic product at the fastest pace in nearly a decade.”
According to the bank, “the growth of the Arab oil countries, by themselves, will slow from 6.1% in 2022 to 3.3% this year, and to 2.3% next year.”
shafaq.com
