The International Monetary Fund (IMF) expected today, Monday that the Iraqi and Egyptian economies will achieve the highest growth in 2023 among the Arab countries.
A table of the IMF showed that “the gross domestic product of Iraq and Egypt is expected to grow by 3.7% during the year 2023 and they will achieve the highest economic growth among the Arab countries,” noting that “the economic growth of Iraq will decrease in 2024 to 3.1%, while the economic growth of Egypt will increase in the same year to 5%.
The IMF added, “It is expected that consumer prices in Iraq (inflation) will rise to 6.6% in 2023 from 5% in 2022, while they will decrease in 2024 to 1.6%.
It indicated that “Iraq’s current account is also expected to achieve 4.4%, down from 2022, which amounted to 11.6%,” noting that “it is expected to achieve a deficit in 2024 of 2.5%.”
What is meant by the current account of a country is the value of exports and imports of both goods and services and international transfers of capital.
Source: National Iraqi News Agency