Iraq's economy booming as oil revenues increase
Iraq's economy should grow nine per cent this year as oil production increases.
Reserves are expected at between $105 billion to $110 billion by the end of this year, reported Reuters, citing a central bank official.
"I expect the GDP will reach $150 billion by the end of 2013. It will be nine percent (growth)," Acting Central Bank Governor Abdul-Basit Turki told Reuters.
The Central Bank had previously said it expected growth in 2012 to be around 10 per cent and reserves in December last year were around $70 billion, reported the newswire.
- Is the Syrian crisis boosting Jordan's agricultural exports? Kingdom sees more than Dead Sea product exposure with 2014's increased fruit, veg, sheep trade abroad
- The only way is up! Dubai index pushes back, makes inroads to recover November performance
- What's its secret? Kuwait sustains non-oil growth for two years
- The reliable consumer: China on track to become biggest export market for GCC by 2020
- After the GCC 'happy' summit, is a customs union closer to reality?