Expectations of economic growth in Iraq, up to 2.9% in 2016

Economy Since 04.27.2016 at 10:47 (Baghdad time)

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International Monetary Fund forecast, Wednesday, rising economic growth in Iraq, to ​​2.9% during the current year 2016, indicating that the costs of the war led to high inflation and deteriorating financial centers.

The IMF said in a report, "The expected rise in the overall rate of growth in oil-exporting countries in the region to 2.9% in 2016 and this increases to up to 3.1% in 2017 compared to 1.9% in the past year as a result of the economic activity is oil in Iran, Iraq, Yemen and Libya. "

The report continued, "Despite the growth of Iraq, it will increase the deficit has as a result of a lack of oil revenues, which will reduce the government's ability to spend," indicating that "the deficit will reach to about 4.75% and will reach 7.75% by the end of this year."

The report said that "the costs of the war in Iraq, Libya, Syria and Yemen are still high and have caused violence in the scarcity of food and other necessities and caused damage to infrastructure and institutions and increased inflation and weakened the savings and deteriorated financial centers of these countries," .anthy 29 / D 24