IMF: Iraq is expected to be the fourth largest Arab economy by 2030.
The International Monetary Fund predicted on Tuesday that Iraq will rank fourth among the largest economies in the Arab world by 2030.
According to the report, Saudi Arabia tops the list as the largest Arab economy, with a GDP of $1.6 trillion, followed by the United Arab Emirates in second place with $764.8 billion, and Egypt in third place with $589.8 billion.
Iraq comes in fourth place, with a projected GDP of $345.9 billion, maintaining its leading position among Arab economies, supported by the energy and oil sector and reconstruction and development projects. It is ahead of Algeria, which comes in fifth place with a total of $309 billion, followed by Qatar in sixth place with $296.8 billion, Morocco in seventh place with $241.9 billion, and Kuwait in eighth place with $190.1 billion.
The Sultanate of Oman ranked last on the list, with a total of $133.3 billion, followed by Jordan in tenth place with $73.6 billion.
The report indicated that Arab economies are experiencing varying growth trajectories, driven by economic reforms, expanding investments in renewable energy, tourism, and technology, along with diversification efforts away from reliance on oil as the primary source of revenue.
Shafaq.com