The World Bank to INA:The Iraqi economy is witnessing great growth

  • 7-12-2022, 16:22
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     The World Bank-WB confirmed on Wednesday,  that the Iraqi economy is witnessing growth to 10.5 percent, while referring to the increase in the productivity of the non-oil sector in Iraq.

    WB told the Iraqi News Agency (INA), that "the Iraqi economy is witnessing great growth, which reached (10.5%) during the first half of the year 2022, compared to a growth rate of (2.8%) in 2021," noting that "the high rate of production and export quantities Oil and global prices had a major role in this increase, in addition to increasing the productivity of the non-oil sector in Iraq.

    It added, "The increase in public revenues represents an important opportunity that supports the future prospects of the Iraqi economy towards diversifying the economy and increasing the contribution of non-oil sectors to the gross domestic product," explaining that "despite the development opportunities in Iraq, the Iraqi economy is still suffering from problems Many are looking for urgent solutions to sustain resilience and economic growth, including the water crisis and climate challenges."

    While the Central Bank of Iraq confirmed to the Iraqi News Agency (INA), that "its monetary policy seeks to achieve stability and economic growth by using various monetary policy tools, both traditional and unconventional," noting that "its various initiatives, whose amount exceeded (18) trillion dinars, contributed to providing financing Appropriate terms, on soft terms, for many small, medium and large projects to support the private sector and economic diversification, including an amount of (1) trillion dinars to finance the purchase of renewable energy systems for individuals and projects."