Fiscal Balance in Iraq

Iraq Fiscal Balance | Economic News & Forecasts

Iraq - Fiscal Balance

In the third quarter of 2018, the Iraqi economy grew at a meager rate over the same period a year earlier despite strong oil production and elevated prices for the black gold through late September. Oil production picked up noticeably in the quarter, but production moderated in October and November—partly due to bad weather in the Gulf region—which, coupled with plunging oil prices, will have dragged on the economy in the fourth quarter. In more positive news, oil exports jumped in December according to the oil ministry, despite the OPEC+ production curb. Exports benefited from the resumption of activity at the Kirkuk oil fields after a year of dormancy, which should provide some stimulus to the economy despite low prices.

Iraq - Fiscal Balance Data

2013  2014  2015  2016  2017  
Fiscal Balance (% of GDP)-5.8  -5.4  -12.3  -13.9  -     

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Iraq Fiscal Balance Chart

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

Iraq Facts

Exchange Rate1,1930.0 %Jan 16

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