IMF says Iraq’s non-oil GDP growth improves

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IMF says Iraq’s non-oil GDP growth improves

On Wednesday, the International Monetary Fund (IMF) reaffirmed that Iraq’s GDP growth, excluding oil, is improving.

According to a statement released by the IMF, an Iraqi team led by Finance Minister Taif Sami met with specialists from the organization in Amman, Jordan.

The agenda for economic reform in Iraq, the steps taken by the government to tighten banking and financial regulations, digital infrastructure, financial inclusion, and public debt issues were all discussed, along with the initiatives to lessen the effects of international conflicts on the economy.

The Iraqi team participated in talks about improving coordination between the country’s financial and monetary policies and raising non-oil revenue.

The IMF specialists noted that Iraq is making progress in growing its GDP that is not derived from oil and applauded the government’s efforts to enhance the business climate and encourage investment.

The IMF emphasized the significance of preserving social protection and economic stability, as well as the remarkable achievements made in doing so as inflation rates declined and the balance of payments improved.

The IMF also praised the private sector’s role in creating jobs and diversifying the economy.