IMF: Iraq projected as fourth among Arab economies by 2030

Shafaq News – Baghdad

Iraq is expected to rank as the fourth-largest economy in the Arab world by 2030, according to a forecast released on Tuesday by the International Monetary Fund (IMF).

The report places Saudi Arabia at the top of the list with a projected gross domestic product (GDP) of $1.6T, followed by the United Arab Emirates with $764.8B, and Egypt in third place with $589.8B.

Iraq ranks fourth, with an expected GDP of $345.9B, maintaining its position supported by the energy and oil sectors, as well as ongoing reconstruction and development projects.

Algeria follows in fifth place with $309B, ahead of Qatar with $296.8B, Morocco with $241.9B, and Kuwait with $190.1B.

The lower end of the list includes Oman with $133.3B and Jordan in tenth place with $73.6B.

The report also notes that Arab economies are following diverse growth trajectories, driven by economic reforms, expanded investment in renewable energy, tourism, and technology, and continuing efforts to diversify revenues away from dependence on oil.

In June, the IMF stated that Iraq is to post the fourth-highest economic growth among Arab oil producers in 2025.