Beyond Oil: Iraq’s Struggle for a Balanced Economy
Iraq’s economy faces a critical test. For decades, oil revenues
link to My FX Buddies blog
have carried the country, but experts warn that this rentier system is unsustainable — especially when liquidity dries up and imports outweigh exports.
Parliament members and economic experts argue Iraq must urgently:
Diversify revenue streams beyond oil
Strengthen tax, customs, and insurance sectors
Invest in human capital and local labor
Support and regulate the private sector
Reduce excessive imports and encourage domestic production
At the same time, the Central Bank highlights that Iraq remains…
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