Forecasts of 5.5% growth for the Iraqi economy in 2022

 
Baghdad-INA
 
The Arab Monetary Fund (AMF) released the 17^th edition of the Arab economic outlook report" The Horizons of Arab Economy” including macroeconomic forecasts for Arab economies including Iraq for 2022 and 2023.
 
The report, which was followed by the Iraqi News Agency (INA), anticipated that the Iraqi economy would recover, achieving a growth of 5.5 percent this year, and a relative decline in economic growth to 4.4 percent in the year 2023.
 
The report reviewed part of the measures conducted by the Iraqi government and the Central Bank(CBI) to contribute to achieve growth in the country, noting that CBI had set among its priorities in its strategic plan for the years 2021-2023 to support digital financial and banking services by preparing for the “Know Your Customer Online” project, to adopt the use of digital identification to open bank accounts and integrate customers digitally, and obligating the banking sector to use digital applications, such as mobile phone applications and online banking services, in accordance with international best practices.
 
The report indicated that CBI launched, in coordination with the government, several initiatives in order to stimulate economic activity, especially in the field of financing small, medium and large enterprises, and in the field of housing and personal loans, and to enhance credit to the private sector by reducing the interest imposed on the granted loans.