Fiscal Balance in Iraq

Iraq Fiscal Balance | Economic News & Forecasts

Iraq - Fiscal Balance

The economy slowed in Q3 according to recent data. The all-important oil sector lost steam as output growth ebbed amid a tough base effect from the prior year. Moreover, the non-oil sector also expanded at a weaker pace. Turning to Q4, the economy should have softened further. Oil production contracted in annual terms in October–November according to EIA data, while widespread protests likely hurt business sentiment and non-oil activity. In politics, in response to the protests, Prime Minister Adel Abdul-Mahdi announced his resignation at end-November, although he remains in a caretaker capacity as a new government has yet to be formed. On the external front, the recent dramatic escalation in tensions between the U.S. and Iran poses a significant security risk to Iraq. Taken together, the fragile domestic political panorama and U.S.-Iran tensions will likely dampen activity in the near term.

Iraq - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-6.1  -5.6  -12.8  -14.3  -1.6  

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Iraq Fiscal Balance Chart

Iraq Fiscal
Note: Fiscal balance as % of GDP.
Source: IMF.

Iraq Facts

Exchange Rate1,1940.0 %Jan 01

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