Iraqi economy’s growth rate to hit 3.1% in 2016, says World Bank

Jan 18, 2016

( Baghdad – On Monday, World Bank expected, that the growth rate of the Iraqi economy to hit 3.1% in 2016 compared with 0.5% last year due to the recovery of oil and other sectors.

The World Bank said in a report obtained by, “The growth rate in the developing countries in MENA region was stable at 2.5% in 2015,” noting that, “The accelerated pace of oil-importing countries’ activity compensated the slowdown in oil-exporting countries’ activity.”

The report added, “The decline in oil prices helped most oil-importing countries to increase the demand, while allowed the governments to reduce fuel subsidies.”