The World Bank’s new Iraq Economic Monitor, A New Opportunity to Reform finds that high oil prices have boded well for Iraq’s economy pushing fiscal and external balance into double digit surpluses. After growing by 2.8 percent in 2021, GDP growth accelerate in the first half of 2022 to 10.5 percent thanks to rising oil output and a recovery in domestic economic activity after
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Higher oil prices, by softening budget constraints for energy producers in the Middle East and North Africa, may reduce the incentive for major economic reforms. But the region’s oil importers, facing renewed risks to social and political stability from rising costs, must contend with much greater challenges. LONDON – The soaring commodity prices affecting developing countri
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The global target for climate warming has been set, this paper briefly discusses what caused global warming, gives samples of its major impacts, and how the world’s nations are dealing with them. The year 2019, is the year I became interested in environmental problems, and it is the year when COVID-19 broke out. For a moment, I thought the two problems were alike; they were
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Europe may fear an energy crisis over the coming winter, but for Iraqis an unstable power supply and frequent blackouts have been a reality during decades of war and turmoil. The Middle Eastern country is rich in oil, but endemic corruption and devastating conflict have taken a heavy toll on its infrastructure and forced most of its 42 million people to adapt. The noise o
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Introduction Economic cooperation aimed at gradual integration between Iraq and other Arab countries is highly desirable from Iraq’s perspective. In 2021, the leaders of Iraq, Egypt, and Jordan held their fourth summit in Bagdad to further the new endeavor for economic cooperation and integration, the ABC Agreement. This section of the report evaluates the new initiative
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