GOLDILOCKS
Iraq has a mixed economic system with some private freedom, but weak centralized economic planning and government regulation. The country's economy is dominated by oil exports, which serve as the basis of its GDP. Successive governments have done little to wean Iraq off this heavy dependency on oil rents and diversify the economy.
However, non-oil growth has rebounded strongly in 2023, while inflation has receded. The World Bank has highlighted the importance of banking reforms and promoting digital financial services to increase financial intermediation and promote financial inclusion.
The Iraq Vision 2030 plan includes diversifying the economy, reducing dependence on oil, promoting innovation, supporting SMEs, and attracting foreign investment. The plan also promotes sectors such as agriculture, tourism, manufacturing, and technology.
https://www.worldbank.org/en/country/iraq/overview
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