World Bank: The Iraqi economy is witnessing great growth

political| 03:16 – 07/12/2022


Baghdad – Mawazine News
The World Bank confirmed, today, Wednesday, that the Iraqi economy is witnessing a significant growth of 10.5 percent, while referring to the increase in the productivity of the non-oil sector in Iraq.
The bank said, “The Iraqi economy is witnessing a significant growth that reached (10.5%) during the first half of the year 2022 compared to a growth rate that reached (2.8%) in 2021,” noting that “the high rate of oil production and export quantities and global prices had a A major role in this increase in addition to increasing the productivity of the non-oil sector in Iraq.
He added, “The increase in public revenues represents an important opportunity that supports the future prospects of the Iraqi economy towards diversifying the economy and increasing the contribution of non-oil sectors to the gross domestic product,” explaining that “despite the favorable development opportunities in Iraq, the Iraqi economy is still suffering from problems.” Many are looking for urgent solutions to sustain resilience and economic growth, including the water crisis and climate challenges.
While the Central Bank of Iraq affirmed, “its monetary policy seeks to achieve stability and economic growth by using various monetary policy tools, both traditional and unconventional,” noting that “its various initiatives, whose amount exceeded (18) trillion dinars, contributed to providing appropriate financing on soft terms for many projects.” Small, medium and large to support the private sector and economic diversification, including an amount of (1) trillion dinars to finance the purchase of renewable energy systems for individuals and projects. Ended 29 / H


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