IMF Upgrades Iraq Forecasts

The International Monetary Fund (IMF) has revised its forecast for GDP growth in Iraq upwards, and its forecast for inflation downwards.

According to its latest World Economic Outlook, real GDP is expected to grow by 0.5 percent this year (up from a fall of 0.2 percent estimated in April), and 3.6 percent next year (vs 1.4 percent previously).

Inflation estimates have been reduced from 2.5 percent to 1.5 percent, and from 2.7 percent to 2.5 percent, respectively.