Iraqi Economists Network

شبكة الاقتصاديين العراقيين

Latest Economy News

IMF Expects Iraq’s Economy to Grow by 1.4% in 2024, 5.3% in 2025

The International Monetary Fund (IMF) said on Thursday that Iraq’s economy contracted by 2.2% in 2022, projecting a growth by 1.4% in 2024 and 5.3% in 2025. The international monetary organization expected fiscal deficit to widen to 7.6% of GDP in 2024 from 1.3% in 2023, noting that Iraq requires an ambitious fiscal adjustment to stabilize debt in the medium term and rebuild buffers.
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Baghdad announces commitment to nationwide census date

Baghdad (IraqiNews.com) – The Iraqi Minister of Planning, Mohammed Tamim, said on Sunday that the population census will take place on November 20, 2024, as planned. Tamim mentioned in a statement that he met with officials in the Planning Ministry, where he reviewed the stages of work and the progress made in field procedures and requirements to complete the population census.
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Iraq’s financial revenues surpass $22.9 billion in the first quarter of 2024

Baghdad (IraqiNews.com) – The Iraqi Ministry of Finance revealed on Monday that Iraq’s financial revenues in the federal budget during the first quarter of 2024 surpassed 30 trillion dinars (around $22.98 billion). The data released by the Finance Ministry in May for the finances for the current fiscal year’s months of January, February, and March indicated that oil remained the primary resource for Iraq’s general budget, accounting for 89 percent of the total, noting that the rentier economy forms the foundation of the country’s general budget.
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Iraqi cabinet votes on federal general budget

Baghdad (IraqiNews.com) – During an extraordinary session on Sunday, the Iraqi cabinet approved the federal general budget for 2024. Following the cabinet’s approval, the federal general budget will be sent to the Iraqi Parliament for approval, according to a statement released by the Prime Minister’s Office (PMO).
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IMF Executive Board Concludes 2024 Article IV Consultation with Iraq

Washington, DC – May 16, 2024: On May 13, 2024, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Iraq and considered and endorsed the staff appraisal. Domestic stability has improved since the new government took office in October 2022, facilitating the passage of Iraq’s first three-year budget, which entailed a large fisc

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Prime Minister al-Sudani’s visit shows Iraq wants to move beyond security and needs U.S. support to address climate, economic and regional challenges. By Sarhang Hamasaeed

Iraqi Prime Minister Mohammed Shia al-Sudani met last week with U.S. President Joe Biden at the White House as part of a weeklong visit aimed at strengthening bilateral relations. The visit occurred amid several historic anniversaries and dangerous developments in the Middle East. April marks the 21st anniversary of the toppling of Saddam Hussein. Since 2003, the U.S.-Iraq rela

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The World Bank: Conflict and Debt in the Middle East and North Africa

The Middle East and North Africa (MENA) region is expected to grow modestly in 2024, returning to the low growth that prevailed in the decade before the pandemic. In addition to examining the macroeconomic outlook of the region, this edition of the semi-annual MENA Economic Update, titled Conflict and Debt in the Middle East and North Africa, includes two special sections. The

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The Iraqi National Economy

IMF Executive Board Concludes 2024 Article IV Consultation
Washington, DC – May 16, 2024: On May 13, 2024, the Executive
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Prime Minister al-Sudani’s visit shows Iraq wants to
Iraqi Prime Minister Mohammed Shia al-Sudani met last week with U.S. President Joe Biden
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Iraq Needs a New Kind of Partnership With
Two decades ago, the United States assisted the Iraqi people in overthrowing
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Oil & Gas Policy

Taking Advantage of a Window of Opportunity in
By outlining a strategy for the Mutually Beneficial Joint Development and Monetization
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Why Iraq’s oil tanker ambitions have not
Shipping is one of many sectors where Iraq is still playing catch-up
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Turkmenistan Eyes Lucrative Gas Deal With Iraq
By Eurasianet – Oct 14, 2023, 10:00 AM CDT   Turkmenistan is in discussions
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Can Iraq Finally Become A Global Petrochemicals Powerhouse?
With its vast oil and gas resources, there is no fundamental reason
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