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Macro - Country Economic Forecasts - Iraq

Publisher Oxford Economics
Published Mar 31, 2023
Length 6 Pages
SKU # OFE17888517

Description

Macro - Country Economic Forecasts - Iraq

Despite a decrease in oil output in Q1 2023, we've maintained our 2023 GDP growth forecast at 4.3%. This is because Iraq is seeking to expand its oil opportunities through offering production and exploration licenses in H2 2023. So far, it's kept its promise to stick to oil cuts, reducing oil production from 4.42 mb/d in January to 4.37 mb/d, hovering around the agreed quota of 4.43 mb/d. But if the April OPEC+ meeting results in a second round of cuts, this will likely pose downside risks to growth, as Iraq remains vulnerable to oil fluctuations.

Table of Contents

6 Pages
Iraq: Low oil quota, currency, & water crises dampen growth
Forecast overview
GDP growth dampened in 2023
Short-term outlook
Key drivers of our short-term forecast
Medium-term prospects still driven by oil
Economic risk
Economic risk evaluation
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

Pricing

Currency Rates
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