Larger declines in oil prices or extended OPEC+ cuts could weigh on Iraq's fiscal account, IMF says

Reuters/REUTERS

"Iraq needs to increase non-oil exports and government revenue, and reduce the economy's vulnerability to oil price shocks," they said in a concluding statement

Adam Makary and Jana Choukeir, Reuters News

March 3, 2024

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The International Monetary Fund said on Sunday that larger declines in oil prices or extended OPEC+ cuts could weigh on Iraq's fiscal and external accounts.

"Iraq needs to increase non-oil exports and government revenue, and reduce the economy's vulnerability to oil price shocks," they said in a concluding statement.

(Reporting by Adam Makary and Jana Choukeir;Editing by Elaine Hardcastle)

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