Iraq’s economy is heavily reliant on oil, which accounts for the majority of GDP and government revenue. Market competition is minimal outside the energy sector, with industries struggling to recover from conflict. Public policies focus on reconstruction and diversification, though corruption and instability hinder progress. Regulatory frameworks are weak, deterring private investment. Iraqi society is youthful, with significant development needs in education and healthcare. Education access is improving but constrained by infrastructure gaps. Healthcare services are underfunded and overstretched. Climate risks, including water scarcity and extreme heat, pose significant challenges. Iraq’s economic recovery depends on peacebuilding and governance reforms.
