Economic Development and Outlook
The ISIS insurgency and low oil prices have severely impacted Iraq’s growth, which decelerated in 2014-15, with government non-oil investment declining by two-thirds and rapid contraction of agriculture, manufacturing and construction. Strong oil production sustained economic growth in 2016, while the OPEC agreement to cut production until March 2018 is expected to lead to a contraction in growth in 2017. Non-oil growth has been negative since 2014, but a better security situation and the benefits of an initial reconstruction effort are expected to sustain non-oil growth at 1.5 percent in 2017. The drivers are construction and services on the supply side, and pick-up in government consumption and investments on the demand side. Owing to the pegged exchange rate and subdued aggregate demand, inflation has averaged 0.4 percent in 2016 and is estimated at 2 percent in 2017.
Republic of Iraq
Country Facts
Federation of Euro-Asian Stock Exchanges
Capital Market Information
Key Highlights of the year 2017
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Click here to read the full economic outlook by the World Bank for October 2017.