WB Cuts Iraq Growth Forecast

Real GDP is expected to fall by 0.3 percent this year, according to the World Bank's latest Global Economic Prospects report. This represents a significant reduction on the previous forecast of 4.2 percent growth, issued in January.

The report says, "oil production cuts have partly contributed to weakened activity in Iraq", adding, " projected moderate recovery in the oil sector in 2025 will help strengthen growth in Iraq." Growth projections for 2025 have been revised upwards to 3.8 percent, with 5.3 percent expected in 2026.