Economic Update – Baghdad
This Monday, the Central Bank of Iraq revealed a 5.4% increase in the volume of loans and financial facilitation within the banking sector for the last quarter of 2024. This growth signifies an enhancement in the financing capabilities available to both individuals and businesses.
According to a statement from the central bank, the total amount of loans and financing options reached 64.12 trillion dinars, up from 60.81 trillion dinars during the corresponding period last year.
The statement emphasized that this upward trend is indicative of a revitalization in economic activities, thereby improving financing opportunities for investment and commercial projects, which in turn aids in the creation of new job opportunities.
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