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IMF says Iraq’s non-oil GDP growth improves

Baghdad ( – The International Monetary Fund (IMF) confirmed on Wednesday that Iraq is making progress in non-oil GDP growth.

An Iraqi delegation headed by the Minister of Finance, Taif Sami, held discussions with experts from the IMF in the Jordanian capital, Amman, according to a statement cited by the Iraqi News Agency (INA).

The discussions focused on the economic reform agenda for Iraq, the measures adopted by the government to strengthen financial and banking regulations, digital infrastructure, financial inclusion, and public debt concerns, as well as the efforts to alleviate the repercussions of global conflicts and their impact on the economy.

The Iraqi delegation held discussions related to increasing non-oil revenues and enhancing coordination between financial and monetary policies in Iraq.

The IMF experts praised the government’s measures to improve the business climate and stimulate the investment environment, noting that Iraq is making progress in the growth of non-oil GDP.

The IMF highlighted the importance of maintaining economic stability and supporting social protection and the tremendous success made in preserving financial and economic stability as inflation rates dropped and the balance of payments improved.

The IMF also commended economic diversification and the creation of job opportunities by the private sector.

Source: Iraqi News, 29. February 2023

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