Iraq's economy to grow by 4.1% in 2025
Baghdad (IraqiNews.com) – The International Monetary Fund (IMF) projected on Sunday that Iraq will rank fourth among Arab oil-producing countries in terms of economic growth in 2025.
According to data revealed by the IMF, the Iraqi economy is expected to grow by 4.1 percent compared to 0.1 percent in 2024, Shafaq News reported.
Libya will have the highest economic growth rate, at 13.7 percent, followed by the UAE at 5.1 percent, Saudi Arabia at 4.6 percent, and Algeria at four percent, according to the IMF.
In early May, the IMF reduced its growth projections for Middle Eastern and North African oil-exporting countries, including Iraq and Saudi Arabia.
The IMF lowered its 2025 projection for the region's oil exporters to 2.3 percent, which was 1.7 percentage points less than the fund's October prediction, according to the Financial Post.
The World Bank expected in mid-June that the Iraqi economy would grow by 1.2 percent in 2025, rebounding from a contraction of -1.5 percent in 2024.
According to a World Bank analysis, Iraq's economic growth is predicted to peak at 4.4 percent in 2026 before falling to 3.1 percent in 2027.
The World Bank Country Director for the Middle East Department, Jean-Christophe Carret, confirmed in March the bank's commitment to helping Iraq meet its development objectives.
With an emphasis on sustainable development, the World Bank places a high priority on strengthening Iraq's capacity to handle economic and development difficulties, according to Carret.
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