Macroeconomic Forecast Iraq

We maintain our positive view on Iraq's economic growth prospects, and we project real GDP to accelerate from 4.3% in 2011 to 7.6% in 2014. While the current government, formed in December 2010, certainly faces formidable challenges, we believe the existence of a government will bode well for the country going forward, particularly in relation to attracting foreign investment and establishing a basic level of political stability. Furthermore, the passage of the 2011 budget will help to stimulate government spending.

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