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Iraq is predicted to have second-highest GDP growth in Arab world, World Bank

Iraq is predicted to have second-highest GDP growth in Arab world, World Bank
Iraq is predicted to have second-highest GDP growth in Arab world, World Bank

2023-04-10 00:00:00 - From: Shafaq News


Shafaq News/ The World Bank predicts that Iraq will achieve the second-largest growth of the gross domestic product in the Arab world during the year 2024.

The bank's report states that Iraq's GDP is expected to grow by 2.8% in 2023 and 4.4% in 2024, ranking second after Djibouti, which is expected to achieve a growth rate of 5.4%. The report also indicates that the growth of per capita GDP in Iraq is expected to increase by 2% in 2024.

The Bank's experts suggest that the Middle East and North Africa region's growth in 2023 will increase by 3% and by 3.1% in 2024, with an increase in per capita GDP in the region.

However, GDP is a purely physical indicator that does not consider the quality of life or the negative consequences of economic activity.