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FINANCIAL NEWS
Significant growth forecasted for Iraq’s banking sector
16 Jul 2013
(MENAFN) Significant growth is forecasted for the banking sector in Iraq within the next 10 years, reported Times of Oman.
The International Monetary Fund (IMF) described it as steady growth compared to 9% growth expected for the country’s GDP.
It’s worth mentioning that studies indicated that Iraqi domestic credit to GDP has increased from 2009-2011; by 89 percent Compound Annual Growth Rate (CAGR) as the domestic credit reached 9 percent of GDP by 2011.
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