Iraq's economy set for over 5% growth by 2026, World Bank says

Shafaq News/ The World Bank has forecast that Iraq's economy will grow by more than 5% in 2026, driven by a rebound in the oil sector in 2025.

According to a World Bank report, Iraq's economic growth was 7.6% in 2022 and -2.9% in 2023. The bank expects the economy to contract by 0.3% in 2024, before expanding by 3.8% in 2025 and 5.3% in 2026.

The report noted that the expected recovery in the oil sector in 2025 will help boost growth in Iraq and Algeria, which are both major oil exporters outside of the Gulf Cooperation Council.

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