Fiscal Balance in Iraq

Iraq Fiscal Balance | Economic News & Forecasts

Iraq - Fiscal Balance

The economy likely performed well in the second quarter. Oil production was up roughly 6% year-on-year in the period according to EIA data, boding well for the energy sector. Moreover, the non-oil sector should be benefiting from the loose fiscal stance and stronger electricity generation. This comes after the economy bounced back in the first quarter according to Statistical Institute data, driven by expansions in the oil and non-oil sectors. Less positively, security concerns are elevated amid intensifying U.S.-Iran and Israel-Iran tensions, which could hurt business investment. In particular, Iran-backed Iraqi paramilitary groups were targeted via air strikes in late August, with Iraqi authorities blaming Israel for the attacks. In late July, the IMF concluded a staff visit, with the Fund warning of worsening fiscal and external metrics without reform efforts.

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

ValueChangeDate
Exchange Rate1,1930.0 %Sep 04

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