Iraq’s Economic Growth: GDP Surpasses $260 Billion

Iraq’s economy is showing promising signs of growth, with its gross domestic product (GDP) now exceeding $260 billion, according to Mohamed Sahib Al-Daraji, the Prime Minister’s advisor for technical affairs.

Speaking to the Iraqi News Agency (INA), Al-Daraji revealed that both local and foreign investments in Iraq have reached $60 billion, while the country’s external debt has been significantly reduced to $9.8 billion, down from $20.9 billion.

With a relatively low external debt compared to GDP, Iraq is now positioned to explore new external financing opportunities, provided they are managed under well-structured financial policies.

Al-Daraji stressed the importance of prioritizing profitable investments that can sustain themselves financially, rather than supporting unsustainable or consumer-driven projects. He also encouraged Iraqi investors to diversify their assets, pointing out that the majority of current investments remain concentrated in the housing and real estate sectors.

Iraq’s improving financial stability presents a strong foundation for future economic expansion, offering significant potential for both local and international investors looking to enter the market.