ÐÓ°ÉÂÛ̳ identified an error in the reporting of debt data for 2022 and projections for ensuing years reported in the recently published Iraq Economic Monitor (IEM) Spring/Summer 2023 issue. As a result, the debt-to-GDP ratio in 2022 was corrected from 53.8 percent to 40.8 percent and remains on a downwards trend. The report was corrected, and was published on the ÐÓ°ÉÂÛ̳ website on September 7, 2023. All other data and findings remain the same.
The IEM is a biannual report which provides an unbiased snapshot of the Iraq economy and its outlook based on official data available and ÐÓ°ÉÂÛ̳ analysis. It looks at key economic developments and assesses their implications and other changes in policy on the outlook for Iraq in a longer-term and global economic context. The IEM is disseminated publicly and intended for a wide audience. It serves as a critical analytical instrument to help identify and underpin informed discourse on key economic reforms for the future of Iraq. The Spring/Summer 2023 IEM edition as published is the accurate basis for informed discourse on its findings.
As Iraq¡¯s recent oil-driven economic recovery faces increasing headwinds and downside risks that weigh on its long-term economic outlook, the ÐÓ°ÉÂÛ̳ reiterates its commitment to support the Government of Iraq¡¯s drive for reforms to accelerate the pace of economic diversification, sustainable growth and job creation.
