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The International Monetary Fund raises the growth forecast for Iraq and reduces it to Saudi Arabia and Iran

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The International Monetary Fund (IMF) raised the growth forecast for Iraq, while reducing it to Saudi Arabia, Iran, Qatar and Kuwait.

Growth in Iraq , the region's second-largest oil exporter after Saudi Arabia , is expected to pick up after its economy contracted by 0.6 percent last year, the IMF said in its new World Economic Outlook .

The IMF slashed its growth forecast for Saudi Arabia and Iran , the two largest economies in the Middle East, on the back of US sanctions, regional tensions and falling oil prices.
 

The fund said it is expected that the "economy shrinks Iran this year by 9.5% in the US under crippling sanctions, while growth expectations fell in Saudi Arabia to 0.2%, down from a previous forecast at 1.6 in April and 1.9 in July."

Nonetheless, the IMF said Saudi Arabia's economic growth next year is likely to reach a threshold of 2.2 percent, amid expectations that continued reforms in the kingdom will help strengthen its non-oil sector in 2020.

Growth in Kuwait , Qatar and Oman also fell , and for the UAE, the region's most diversified economy, growth fell to 1.6% from 2.8% in April, on the back of lower oil prices and an economic slowdown in Dubai.
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Wednesday 16 October 2019 11:35 AM
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BAGHDAD / ... The International Monetary Fund raised the growth expectations for Iraq, while reducing them to Saudi Arabia, Iran, Qatar and Kuwait.

Growth in Iraq, the region's second-largest oil exporter after Saudi Arabia, is expected to pick up after its economy contracted by 0.6 percent last year, the IMF said in its new World Economic Outlook.

The IMF lowered its growth forecast for Saudi Arabia and Iran, the two largest economies in the Middle East, on the back of US sanctions, regional tensions and falling oil prices.

The IMF said Iran's economy is expected to shrink this year by 9.5% amid stifling US sanctions, while growth forecasts for Saudi Arabia slipped to 0.2% from a previous forecast of 1.6 in April and 1.9 in July.

Nonetheless, the IMF said Saudi Arabia's economic growth next year is likely to reach a threshold of 2.2%, amid ongoing reforms in the kingdom that will help its non-oil sector gain strength in 2020.

Growth in Kuwait, Qatar and Oman also fell, and for the UAE, the region's most diversified economy, growth fell to 1.6% from 2.8% in April on the back of falling oil prices and an economic slowdown in Dubai.

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Release date:: 2019/10/16 11:04 • 351 times read
Another expectation of international criticism about the economy of Iraq
The International Monetary Fund raised the growth expectations for Iraq, while reducing them to Saudi Arabia, Iran, Qatar and Kuwait.
"Growth in Iraq, the region's second-largest oil exporter after Saudi Arabia, is expected to rise after its economy contracted by 0.6% last year," the IMF said in its new report, Prospects for the Global Economy.
The IMF lowered its growth forecast for Saudi Arabia and Iran, the two largest economies in the Middle East, on the back of US sanctions, regional tensions and falling oil prices.
The IMF said that Iran's economy is expected to shrink this year by 9.5% amid stifling US sanctions.
Nonetheless, the IMF said Saudi Arabia's economic growth next year is likely to reach a threshold of 2.2 percent, amid expectations that continued reforms in the kingdom will help its non-oil sector gain strength in 2020.
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IMF just showed their hand. 
:cigar:

Edited by gregp
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