SGBJ - The Acquisition
Iraqi Economy Highlights
5.5%
Real GDP Growth Rate
9.3%
7.7%
Inflation Rate
6.0%
0.6%
Foreign Currency Reserves (USD Bn)
68.0
64.2
4.2%
54.4
94.7
2019
2020
2021
Oct, 2022
2019
-0.2%
2020
2021
Nov, 2022
2019
2020
2021
Oct, 2022
-15.7%
are
The Government's revenues
dominated by oil exports; thus Iraq's
economy has been rebounding driven
by the rising oil output and a post-
pandemic recovery in non-oil sectorst.
Inflation remained elevated during the
11 months of 2022 fueled by rising
energy prices, demand pressures and
high global commodity prices due to
supply side disruptions.
Record oil exports in conjunction with
high oil prices have brought in record
oil revenues for the Iraqi government
and pushed international reserves to
their highest levels in more than two
decades. Additionally, in May the
Central Bank of Iraq increased its gold
reserves by 35%.
Source: World Bank (Iraq Economic Monitor - Fall edition), International Monetary Fund (IMF) and the Central Bank of Iraq.
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