Baghdad
Iraqi Finance Minister Taif Sami announced today (Monday) that the Iraqi economy will record 5% non-oil GDP growth in 2024.
The Iraqi News Agency (INA) quoted Minister Taif Sami as saying, “A high-level government delegation, including the Governor of the Central Bank, Ali Al-Alaq, accompanied us, discussed with the International Monetary Fund (IMF) mission the latest economic and financial developments in Iraq during a meeting held in the Jordanian capital, Amman.”
She added, “The IMF mission has identified several positive indicators related to the Iraqi economy, most notably a 5% growth in non-oil GDP in 2024, driven by the growth of the agricultural sector and increased public spending.”
She continued, “Expectations indicate continued growth of 4 percent in 2025,” noting that “the level of oil GDP will remain dependent on OPEC’s decisions regarding production ceilings and global crude oil prices.”
The Iraqi economy is heavily dependent on crude oil exports, which constitute more than 90 percent of revenues.
