Iraq Launches National Development Plan 2024-2028: SEARCHING SUSTAINABILE GROWTH AND STABILITY BY DINAR REVALUATION, 20 AUGUST

Iraq Launches National Development Plan 2024-2028

On August 20, 2024, Prime Minister Mohammed Shia Al-Sudani unveiled Iraq's ambitious National Development Plan (NDP) for the period 2024-2028. The plan, launched during a significant ceremony, represents a major milestone in the nation's progress towards sustainable development and economic reform. 1

Objectives and Collaborations

The NDP was developed as a collaborative effort between Iraq's Ministry of Planning and the United Nations Development Programme (UNDP), with support from the United States Agency for International Development (USAID).  1 Its objectives are multifaceted, encompassing economic growth, infrastructure enhancement, social service improvements, environmental conservation, and sustainable resource management.

Strategic Direction and Partnerships

Dr. Muhammad Ali Tamim, Deputy Prime Minister and Minister of Planning, highlighted the plan's vision based on utilizing state capabilities and private sector involvement, promoting knowledge and technology, and building a social market economy. He also emphasized the commitment to reform policies and international cooperation, expressing gratitude to UNDP, USAID, civil society organizations, and the private sector for their support. 1

UNDP and USAID's Role

Auke Lootsma, UNDP Iraq Resident Representative, underscored the significance of the NDP launch as a testament to the collaborative efforts between the Ministry of Planning, UNDP, and USAID. This partnership is seen as a blueprint for Iraq's strategic direction and long-term prosperity. 1

Challenges and Opportunities

Inequality and Social Protection

A concurrent strategy, the Iraq National Strategy to Prevent and Reduce Inequalities in the World of Work for the Years 2024-2028, aims to address inequality in opportunities, wealth, outcomes, and treatment. It prioritizes comprehensive social protection, expanding coverage and ensuring access to social protection floors, and promoting gender equality in the workplace.  2

Economic and Educational Focus

During Prime Minister Al-Sudani's visit to the United States, there was a focus on economic, educational, and people-to-people domains, demonstrating Baghdad's desire to diversify its relationship with the U.S. 3

Security and Cooperation

The Higher Military Commission (HMC) was established to assess the ISIS threat and the operational environment, aiming to transition from the anti-ISIS coalition mission to bilateral security relations between Iraq and the United States. 3

Financial and Social Reforms

Iraq has embarked on significant reforms in banking and finance, including the launch of an electronic platform for foreign currency sales, the establishment of an Iraq Fund for Development, and the passing of a new social security law. 4

Regional Infrastructure and Natural Resources

Iraq's Development Road Project, a regional infrastructure initiative, aims to leverage the country's natural resources effectively and responsibly, reducing energy waste and enhancing energy independence. 4

Conclusion

The launch of Iraq's National Development Plan 2024-2028 marks a pivotal moment in the country's efforts to advance its development agenda. With a focus on economic, social, and environmental objectives, the plan aims to lay the foundation for sustainable growth and stability, building on partnerships with international organizations and the private sector.

SOURCES: 

https://www.iraq-businessnews.com/tag/national-development-plan-ndp/

https://www.ilo.org/publications/iraq-national-strategy-prevent-and-reduce-inequalities-world-work-2024-2028

https://www.usip.org/publications/2024/04/baghdad-ready-new-chapter-us-iraq-relations