Publication: Supporting Private Sector Development in Iraq

Thumbnail Image
Files in English
English PDF (717.96 KB)
575 downloads

English Text (12.83 KB)
56 downloads
Date
2011-11
ISSN
Published
2011-11
Author(s)
Rimmer, Stephen
Al-Ani, Mohammed
Abstract
While Iraq is a middle-income country it faces challenges which are more commonly found in low income countries. These include dependence on one primary commodity (crude oil); significant infrastructure reconstruction and rehabilitation needs; and poorly performing regulatory policies, institutions and processes. Iraq's recent success in stabilizing its macro economy and budget was an important step towards reversing this situation. However, much more needs to be done. For example, oil revenues generate over 95 percent of budget revenues but the oil sector employs only one per cent of the labor force. Developing a strong and healthy private sector is necessary for Iraq to develop a diversified and resilient market economy with rising living standards. Furthermore progress is needed in diversifying its economy and creating healthy competition in markets to generate employment and sustainable livelihoods for the majority of its growing population. Iraq's transition to a more diversified market economy continues to take place in a fragile political, security and institutional context.
Citation
Rimmer, Stephen; Al-Ani, Mohammed. 2011. Supporting Private Sector Development in Iraq. MENA Knowledge and Learning Quick Notes Series; No. 48. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/fe41e575-a67b-5a43-9b72-8b7f5b32c94f License: CC BY 3.0 IGO.
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue
Associated URLs
Associated content
Citations