Economic Expert: Reliance on Oil is Insufficient to Achieve Sustainable Development in Iraq

Economic experts emphasized that increased oil production and higher export volumes do not automatically reflect on the citizens' standard of living, noting that oil revenues require strategic investment in developmental projects and structural reforms. Experts explained that the Iraqi economy remains rentier and vulnerable to global energy market fluctuations, with the majority of revenues being depleted to cover operational expenses at the expense of infrastructure and services investment. They stressed the importance of diversifying income sources and supporting productive sectors such as industry and agriculture to achieve economic stability, create sustainable job opportunities, and improve the quality of life.