GDP in Iraq
Iraq - GDPThe economy likely lost steam in the fourth quarter. Oil production was down 2.4% year-on-year in the period according to EIA data, due in part to a temporary outage at the Rumaila field and as the country strengthened compliance with OPEC+ production cuts. Moreover, prolonged protests likely dented non-oil activity. This comes after a slowdown in Q3 on the back of weaker expansions in both the oil and non-oil sectors. On the political front, Mohammed Tawfiq Allawi was recently appointed as prime minister, several months after former Prime Minister Adel Abdul-Mahdi resigned over the government’s handling of the protests. Allawi must now form a cabinet and prepare for fresh elections, although a firm date for the vote has yet to be announced. The economic panorama is unlikely to change significantly, and anti-government protests look set to rumble on.
Iraq - GDP Data
|Economic Growth (GDP, annual variation in %)||2.3||1.7||9.6||0.8||-1.0|
5 years of economic forecasts for more than 30 economic indicators.
Iraq GDP Chart
Source: World Bank and FocusEconomics calculations
|Exchange Rate||1,194||0.0 %||Jan 01|
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