New economic forecasts provided by the International Monetary Fund indicate that Iraq, Qatar, and Kuwait will face significant economic growth rates in 2027. This report, titled "World Economic Outlook," examines the gross domestic product status of these countries and, based on the analyses conducted, Iraq ranks first on this list with a projected growth of 19%.
Ranking of Countries with the Fastest Economic Growth
In this ranking, following Iraq, Qatar with 18.8% and Kuwait with 17.1% are in second and third places, respectively. These significant growths are predicted at a time when these countries faced economic contraction in 2026. For instance, Iraq experienced a 16% decline in GDP last year. These forecasts reflect optimism for economic improvement in these countries and a return to more stable conditions.
Factors Influencing Economic Growth
In addition to the Gulf countries, Guyana also ranks fourth globally with a growth of 16.8%. This country continues to experience rapid growth due to the expansion of oil production in its offshore areas. Additionally, Sudan is projected to grow by 15%, placing it fifth. Among other countries, Bahrain with 13.9%, Uganda with 9.9%, and Saudi Arabia with 7.9% are included in this list.
These forecasts also point to broader economic impacts at the global level. For example, while the Eurozone economy is expected to grow by only 1.2%, the U.S. economy is projected to increase by 2.3%. This situation reflects the challenges faced by developed countries and the pressures from defense and infrastructure commitments on public financial resources.
In this context, the International Monetary Fund has also assumed that shipping traffic through the Strait of Hormuz will gradually resume from March 2027, and by October of that year, conditions will return to pre-war status with Iran. This scenario could have significant impacts on trade and the economy of the region.
Read more: Economic growth in the Middle East in 2027 led by Iran
