Iraq: 2022 Article IV Consultation-Press Release; and Staff Report
February 3, 2023
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Iraq: 2022 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2023) accessed December 21, 2024
Summary
Significant socio-economic fragilities continue to persist. The formation of a new government in October 2022 provides an opportunity to rekindle the reform momentum, which has been stalled for over a year amid political uncertainty. The economy has been gradually recovering, supported by strong oil revenues and accommodative policies. Inflation has been relatively contained as the pass-through from high global commodity prices has been muted by food and fuel subsidies. Despite fiscal and external current account surpluses, Iraq’s dependence on oil and vulnerability to future oil price volatility continued to increase.
Publication Details
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Pages:
71
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Volume:
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DOI:
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Issue:
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Series:
Country Report No. 2023/075
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Stock No:
1IRQEA2023002
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ISBN:
9798400229305
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ISSN:
1934-7685
