Iraq Economic Monitor, Spring 2018 : From War to Reconstruction and Economic Recovery
The Iraq Economic Monitor provides an update on key economic developments and policies over the previous six months and presents findings from recent World Bank work on Iraq, placing them in a longer-term and global context and assessing the implic...
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| Format: | Report |
| Language: | English |
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World Bank, Washington, DC
2018
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| Online Access: | http://documents.worldbank.org/curated/en/771451524124058858/Iraq-economic-monitor-From-war-to-reconstruction-and-economic-recovery-with-a-special-focus-on-energy-subsidy-reform http://hdl.handle.net/10986/29688 |
| Summary: | The Iraq Economic Monitor provides an
update on key economic developments and policies over the
previous six months and presents findings from recent World
Bank work on Iraq, placing them in a longer-term and global
context and assessing the implications of these developments
and other changes in policy regarding the outlook for Iraq.
Its coverage ranges from the macro-economy to financial
markets to indicators of human welfare and development. Iraq
is slowly emerging from the deep economic strains of the
last three years, but progress in addressing the legacy of
the war against ISIS and the accumulated development deficit
from decades of conflict needs to be accelerated. Following
the complete liberation from ISIS of all Iraq territory in
December 2017, the Government of Iraq (GoI) is putting in
place a comprehensive reconstruction package linking
immediate stabilization to a long-term vision. The conflict
with ISIS and widespread insecurity have created a major
humanitarian and economic crisis. Iraq’s growth outlook is
expected to improve thanks to a more favorable security
environment and gradual pick up of investment for
reconstruction, but absent structural reforms, higher growth
would be short-lived. The outlook is also subject to
significant social and political risks. Lingering political
tensions, weak administrative capacity and widespread
corruption continue to pose a downside risk and could
further limit the government’s reform effort and its
capacity to implement investment for reconstruction. |
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