Iraq economic growth is expected to increase to 9.5 percent during 2022 as higher oil revenues boost project investments, a top government official said.
Mudher Mohammed Saleh, financial advisor to the Iraqi government, told Zawya Projects that Iraq's GDP is expected to grow 9.5 percent during 2022 due to higher oil prices and higher volume of oil exports.
The higher economic growth expectations for 2022 are led by the availability of extra million barrels of oil for export in addition to current export capacities, explained Saleh.
He said he expected the largest share of the financial surplus to be directed to projects when it is reallocated.
The current account balance for Iraq, he said, is expected to reach 15.8 percent and 10.1 percent during 2022 and 2023 respectively, up from 5.9 percent in 2021.
(Reporting by Majda Muhsen; Editing by Anoop Menon)
