IMF: Iraq to Have Fastest Growing Economy in ME, Central Asia

According to the recently-published World Economic Outlook from the International Monetary Fund (IMF), Iraq's economy is forecast to grow by 9.3% this year, giving it the fastest real GDP growth of all the Middle East and Central Asia countries.

The forecast is slightly down from the 9.5% projected in the previous report in April. The 2023 expectation of 4.0% is a reduction from the previous 5.7%. Meanwhile, consumer prices are expected to rise by 6.5% this year and 4.5% in 2023, slightly below previous estimates.