Growth in 2016 is expected to rebound to 11.0 percent, sustained by a further increase in oil production, but non-oil GDP is expected to further contract by 8.1 percent. Inflation rate is expected to remain low at 0.4 percent in 2016, with the government subsidizing electricity, food and fuel.
The Iraqi economy is facing severe challenges. The decline in oil prices in 2015 and 2016 and the ISIS insurgency have contributed to a sharp deterioration of economic activity and has rapidly increased the fiscal and current account deficits. Macroeconomic risks remain elevated due to Iraq’s exposure to a volatile oil market. But the medium-term outlook seems more favorable.
The double shock h...
A new World Bank project that aims to reduce traffic fatalities by nearly 25% will create jobs and boost regional trade.
Regional Director for the Mashreq
Learning from Local Success Stories in Service Delivery in the Middle East and North Africa where 50% of the population are dissatisfied with public health & education services in their areas.
The report outlines principles that can guide post-conflict reconstruction to rebuild not just infrastructure, but inclusive institutions.
Diaspora can be an important partner for governments and development institutions to foster regional integration and entrepreneurship.
This report supplement the World Bank’s Bi-annual MENA Quarterly Economic Brief and presents the short term, macroeconomic outlook and economic challenges facing the countries in the region.