Clare 

Article: “Prospects for the Iraqi Economy: Challenges and Opportunities to 2025 and Beyond”  Quote “The International Monetary Fund (IMF) provided a detailed assessment of the Iraqi economy…The Iraqi economy contracted by 2.2% in 2022...The Fund expects the economy to grow by 1.4% in 2024 and 5.3% in 2025. However, the Fund warns that Iraq’s fiscal position remains worrisome, with the budget deficit expected to widen to 7.6% of GDP in 2024, compared to 1.3% in 2023. It also expects government debt to reach 48.2% of GDP in 2024 and 54.6% in 2025…By 2025, the Iraqi economy is expected to begin a significant recovery, with strong growth in its non-oil sector and increased investment in areas such as technology and infrastructure. If the required fiscal and structural reforms are implemented, Iraq may be able to reduce its dependence on oil and strengthen its private sector.“