Genuine Gross domestic product is supposed to fall by 0.3 percent this year, as per the World Bank’s most recent Worldwide Financial Possibilities report.
Compared to the January forecast of 4.2 percent growth, this is a significant decrease.
The report states that “proposed moderate recovery in the oil sector in 2025 will help strengthen growth in Iraq” and that “oil production cuts have partly contributed to weakened activity in Iraq.”
The growth forecasts for 2025 have been revised up to 3.8%, with 5.3% anticipated in 2026.
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