Project Detail |
Strengthening Public Finances and Financial Markets in Iraq Iraq is undergoing a political, social and economic transformation, which has been marked by many setbacks and keeps exposing the country’s institutional shortcomings. Iraq is highly dependent on oil, with almost the entire state revenue coming from oil exports. The country has one of the world’s weakest public finance systems. Private sector financing is also insufficiently developed by international standards. The public has little confidence in financial intermediaries such as state and private banks and other financial service providers. State actors dominate private sector activity and are undermining the country’s economic recovery. Public finances in Iraq are improved and the country’s dependence on oil is reduced. |