Iraq: Troubled history, huge potential

Growth is forecast to continue registering strong annual increases in 2013 and 2014. The economic authorities have been successful in controlling inflationary pressures at a time of rapid growth and high receipts of oil revenues.

Even with a forecast easing in international energy prices in 2014, a fiscal surplus will be recorded in that year, currently. Iraq's external accounts mirror developments in oil output and international energy prices.

Iraq's external debt levels are low relative to the size of the economy and income generation ability.