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Macro - Country Economic Forecasts - Iraq

Publisher Oxford Economics
Published Sep 30, 2024
Length 6 Pages
SKU # OFE19224370

Description

Macro - Country Economic Forecasts - Iraq



We've raised our 2024 GDP growth forecast for Iraq by 0.6ppts to 2.5%. We mainly attribute our upward revision to the overproduction of oil since January, supported by expansionary fiscal policy. But we've lowered our forecast for 2025 to 2.8% from 3.6%, to reflect the recent extension of the voluntary 220 tb/d cut, pledged until the end of November. We expect Iraq will phase out the cuts gradually from December to end-2025.

Table of Contents

6 Pages
Iraq: Overproduction of oil will support the rebound in 2024
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Medium-term prospects
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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