Economic Development and Outlook
Iraq’s economic condition is gradually improving following the deep economic strains of the last three years. The defeat of ISIS in end-2017 now leaves the challenging task of rebuilding the infrastructure and providing services and job opportunities to the population. This is overlaid on the need to address the legacy of past conflict and neglect, including in the south, which was the poorest region of the country pre-ISIS. The World Bank estimates the cost of post-ISIS reconstruction at US$88 billion. US$30 billion worth of -commitments were made, mostly in the form of loans and guarantees, at the International Conference for the Reconstruction of Iraq, which took place in February 2018 in Kuwait. Reconstruction effort may be delayed due to political uncertainty following elections in May 2018.The rebound of economic growth in 2017 was lower than expected. Iraq maintained oil production in line with OPEC+ agreement. In 2018, overall GDP growth is estimated to return positive at 1.9 percent thanks to a notable improvement in security conditions, higher oil prices, and expected higher public and private investment.
Republic of Iraq
Federation of Euro-Asian Stock Exchanges
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Click here to read the full economic outlook by the World Bank for October 2018.