Fiscal Balance in Iraq
Iraq - Fiscal BalanceThe 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
|Fiscal Balance (% of GDP)||-6.1||-5.6||-12.8||-14.3||-1.6|
5 years of economic forecasts for more than 30 economic indicators.
Iraq Fiscal Balance Chart
|Exchange Rate||1,193||0.0 %||Sep 04|
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