The IMF predicted 2% growth in 2015 for the Iraqi economy

The IMF predicted 2% growth in 2015 for the Iraqi economy

The International Monetary Fund (IMF) has declared publically that the war against Daash gave a big loss to the Iraqi economy and went down by 0.5 percent in 2014. The IMF pointed out the downfall in the non-oil sector growth since the war against Daash. The business community faced Poor law and order condition, destructed infrastructure, fuel and electricity problems, and lost their confidence. The IMF also predicted that growth rate of Iraqi economy would go up with the increase of 2% in oil production and its exports.

According to the source of north, the federal government made an agreement with the Kurdistan regional government to access oil reserves and to facilitate the export from the Kirkuk oil fields to the Turkish port of Ceyhan via the oil pipeline. The oil production of Iraq was at 3.1 million barrels per day in 2013 and went up in 2015 at 3.3 barrels per day. This improvement came because the survival of oil infrastructure in the south of Iraq away from the reach of Daash and by the production of oil in the Kurdistan. He also pointed out that Iraqi oil exports would be at 2.5 million barrels per day, same level of 2013.

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