IRAQ IRAQ | Overview

Official name: Republic of Iraq

Capital: Baghdad

Official languages: Arabic

Monetary unit: Iraqi Dinar (IQD)

Population (million): 32.6

Total area (sq km): 438,317


OVERVIEW

Iraq is located in Asia at the North-east of the Arabian Peninsula. It is bordered by Turkey in the North, Iran in the East, Kuwait in the South, Saudi Arabia and Jordan in the South-west, and Syria in the North-west. Iraq is a lower middle-income country that had enjoyed robust economic growth after 2003. Its GDP per capita had increased steadily since early 2003

The Iraqi economy is currently suffering from structural weaknesses as the public sector is considered large and the government and state-owned enterprises employ approximately half of the labor force. The Iraqi economy remains vulnerable to the country’s ongoing security problems and oil prices volatility, which hinder investment and inhibit private economic activity. However, the government is implementing a set of reforms to diversify economy, which would lead to the promotion of income-creating opportunities for the majority of the Iraqi population.  .


Year joined ICD:

Number of projects approved: 0

Gross Approval ($US million): 0

Gross Disbursement ($US million): 0