World Bank: 3.1% growth of the economy of Iraq in 2016 1/7/2016
World Bank: 3.1% growth of the economy of Iraq in 2016
1/7/2016 0 Comments
Direct: The World Bank predicted that Iraq achieve economic growth of 3.1% during the current year 2016 as a result of the recovery of oil and non-oil sectors, compared to 0.5% for 2015. The bank stressed that the ongoing conflicts damaged Alaguetsadio activity in Iraq, Libya, Syria, Yemen and the loss of life and destruction of infrastructure and the movement of trade, the World Bank predicted high growth rate in Iraq. The World Bank predicted high growth rate in the Middle East and North Africa to 5.1% in 2016 compared to 2.5% in 2015.
The bank attributed this increase to the expected lifting of economic sanctions imposed on Iran, which would allow it to play a greater role in global energy markets.