GDP in Iraq
Iraq - GDP (billions of U.S. Dollars)The economy shrank 11.7% in the second quarter according to recent data, on sharp downturns in both the oil and non-oil sectors. The contraction in Q3 was likely also marked. EIA figures show oil output collapsed in the period, as Iraq raised its compliance with OPEC+ cuts, while the non-oil sector was likely hampered by lingering Covid-19 restrictions and security concerns. Heading into the final quarter, the non-oil sector should be supported by the recent opening of many public venues and the end of the nighttime curfew. In politics, the government presented a three-year reform plan in October, which will aim to constrain spending and diversify away from oil to address the dire fiscal predicament. However, execution of the plan could be difficult due to the fractured political situation.
Iraq - GDP (USD bn) Data
|GDP (USD bn)||165||167||191||212||220|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||1,194||0.0 %||Jan 01|
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