IMF expects Iraq’s economic growth to increase 9%

Added by Ibrahim Khalil on March 23, 2013. Saved under Business Baghdad (IraqiNews.com) -The International Monetary Fund expected that the Iraq’s economic growth will increase 9%. In a press statement received by Iraqi News (IraqiNews.com), the IMF stated “Despite a difficult security and political environment, Iraq managed to maintain macroeconomic stability over the past two years. On the back of rising oil production and robust non-oil activity, economic growth has remained strong at about 8 percent in 2012.” “We expect activity to accelerate further to 9 percent in 2013, as oil production increases from just under 3 million barrels per day (mbpd) in 2012 to 3.3 mbpd in 2013,” the statement added. “In 2012, inflation was contained at 6 percent, and we project it to decline slightly next year. On account of strong oil proceeds, CBI reserves reached US$70 billion at the end of 2012, while the Development Fund for Iraq (DFI) rose to US$18 billion,” the statement concluded Read more: http://www.iraqinews.com/business-iraqi-dinar/imf-expects-iraq-s-economic-growth-to-increase/#ixzz2OvU49jPF Follow us: @IraqiNews_com on Twitter | IraqNews on Facebook