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IMF expects economic growth in Iraq and oil states to rise in 2019 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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IMF expects economic growth in Iraq and oil states to rise in 2019

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IMF expects economic growth in Iraq and oil states to rise in 2019 Empty IMF expects economic growth in Iraq and oil states to rise in 2019

Post by claud39 on Tue Nov 13, 2018 9:27 am


IMF expects economic growth in Iraq and oil states to rise in 2019

IMF expects economic growth in Iraq and oil states to rise in 2019 Doc-P-181681-636776995626708285

Follow - up / Tomorrow 's Press: 

International Monetary Fund announced on Tuesday that economic growth in Iraq and other oil -producing countries will reach 0.9% next year, warning at the same time of fluctuations in oil prices. 

The GCC economy in general will return to growth in 2018 after shrinking in some of its countries but remains vulnerable to oil price volatility, the IMF said in a report released today.

He pointed out that the rise in oil prices after the great decline witnessed until 2016 will allow the Gulf economy to grow by 2.4% this year and 3% in 2019, after shrinking by 0.4% in 2017. 

The six Gulf states together, Saudi Arabia and the UAE Bahrain, Oman, Kuwait and Qatar - 17 million barrels of oil a day and their budgets are heavily dependent on crude revenues. 

With the oil market unstable and volatile, the IMF warned that "the growth prospects of the oil-exporting countries are affected by serious doubts about the course of oil prices in the future." 

Oil prices lost about 20 percent of their value last month after rising recently, due to oversupply and indications of the limited impact of US sanctions on Iran.

The IMF said growth in the oil countries in the region outside the Gulf - Iraq, Iran, Algeria and Libya - is expected to reach 0.3 percent in 2018, up from 3 percent a year earlier, before rising to 0.9 percent in 2019 

. "This is a significant reflection of the re-imposition of US sanctions on Iran, which will likely reduce Iran's production and exports over the next two years." 

He predicted that the Iranian economy will shrink by 1.6% this year and by 3.6% next year.
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