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The World Bank: Iraq's GDP will rise to more than 7% in 2022
Shafaq News / The World Bank expected today, Sunday, that Iraq's gross domestic product will rise to more than 7% during 2022, indicating that Egypt is the only country whose GDP has not been affected in 2020.
The bank said in a report reviewed by Shafaq News Agency; It is "expected that the gross domestic product of Iraq will rise to 2% in 2021 and 7.3% in 2022," noting that "Iraq's GDP decreased by 9.5% in 2020, after it had increased by 4.4% in 2019."
He added, "Lebanon was the country with the lowest GDP rate of 19.2% in the Middle East," expecting the decline in the GDP of this country by 13.25% in 2021.
And that "Egypt is the only country whose GDP has not been affected in 2020, to increase by 3.6%."
The bank indicated that "economic activity among oil-exporting countries is expected to recover by 1.8% this year, with support for the return of oil demand to normal, the planned mitigation to reduce oil production in OPEC + countries, policy support and the gradual easing of domestic restrictions related to the pandemic."
The bank stressed that "the recovery of economic activity in the Middle East depends on containing the pandemic, stabilizing oil prices, not escalating geopolitical tensions again, and assuming vaccines will be distributed in the second half of this year and by 2022."
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