Iraq Economic Monitor - Navigating the Perfect Storm (Redux) - With a Special Focus on Laying the Foundation for a New Economy in Iraq: Digital Transformation - Spring 2020

Jul 19, 2026

The Iraq Economic Monitor: Navigating the Perfect Storm (Redux) (Spring 2020) assesses recent macroeconomic and policy developments in Iraq, covering output and demand, oil and gas dynamics, public finance, the external sector, monetary policy and prices, and the business environment. It highlights outlook and risks under stress from oil price shocks and constrained private-sector credit. A special focus examines how digital transformation can strengthen Iraq’s digital economy through infrastructure, digital financial services, platforms, skills, and digital entrepreneurship, outlining priorities for laying the groundwork for a new economy.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages50

Reading Time2 h 6 min

AccessFree to download

Executive Summary

Chapter 1 Recent Economic and Policy Developments

Introduction

Output and Demand

Oil and Gas Developments

Public Finance

External Sector

Monetary Policy and Prices

Business Environment and Private Sector Development

Outlook and Risks

Outlook

Risks

Chapter 2 Laying the Foundation for a New Economy in Iraq: Digital Transformation

Introduction

The Importance of the Digital Economy

Current State of Iraq’s Digital Economy

Digital Infrastructure

Digital Financial Services (DFS)

Digital Platforms

Digital Skills

Digital Entrepreneurship

Conclusion

References

Iraq Economic Monitor Navigating the Perfect Storm (Redux) With a Special Focus on Laying the Foundation for a New Economy in Iraq: Digital Transformation SPRING 2020 Middle East and North Africa Region Macroeconomics, Trade & Investment Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized Pub lic Disclosure Authorized Iraq Economic Monitor Navigating the Perfect Storm (Redux) With a Special Focus on Laying the Foundation for a New Economy in Iraq: Digital Transformation SPRING 2020 Middle East and North Africa Region TABLE OF CONTENTS Acknowledgments ..................................................... v Acronyms ...........................................................vii Executive Summary .................................................... ix الملخص التنفيذي ...................................................... xi Chapter 1 Recent Economic and Policy Developments ............................. 1 Introduction ................................................................................ 1 Output and Demand ........................................................................ 2 Oil and Gas Developments ................................................................... 5 Public Finance ............................................................................. 6 External Sector ............................................................................. 8 Monetary Policy and Prices .................................................................. 8 Business Environment and Private Sector Development ......................................... 12 Outlook and Risks ......................................................................... 13 Outlook .............................................................................. 13 Risks .................................................................................... 15 Chapter 2 Laying the Foundation for a New Economy in Iraq: Digital Transformation .......... 19 Introduction ............................................................................... 19 The Importance of the Digital Economy .......................................................20 Current State of Iraq’s Digital Economy .......................................................21 Digital Infrastructure .................................................................... 21 Digital Financial Services (DFS) .......................................................... 24 Digital Platforms ....................................................................... 25 Digital Skills ........................................................................... 27 Digital Entrepreneurship ................................................................ 29 Conclusion ............................................................................... 31 References ..........................................................33 List of Figures Figure 1 Non-oil GDP Has Grown by Nearly 5 Percent in 2019, Outperforming Previous Three Years ..3 Figure 2 Nevertheless, Growth Was Not Sufficient to Make a Change in Per Capita Terms ...........3 Figure 3 Oil, Agriculture and Services Have Been the Pillars for Growth in 2019 ....................3 Figure 4 … with Oil Recording the Largest Contribution Given Its Weight in the Economy .............3 Figure 5 Private Consumption Picked Up in 2019 ..............................................4 Figure 6 While F DI Halved to US$2 .9 Billion in 2019 ............................................ 4 Figure 7 The Collapse in Oil Prices Has Outpaced the Rise in Production, Putting a Large Toll on Revenues ...................................................................... 5 Figure 8 Oil Prices Stood at US$5 Above the 2019 Budgeted Price, Compared to a US$19 .5 Spread in 2018, and Continue to Plunge as COVID-19 Situation Develops

FAQs

What topics does the report cover in its assessment of recent Iraq economic and policy developments?

It reviews output and demand, oil and gas developments, public finance, the external sector, monetary policy and prices, and the business environment and private-sector development. It also discusses outlook and risks.

How does the report explain the economic impact of oil price changes?

It links the collapse in oil prices to weaker revenues and a decline in reserves early in 2020, with growth challenges persisting despite improvements in some areas.

What does the special focus on digital transformation include for building a new economy in Iraq?

It covers the importance of the digital economy and Iraq’s current state, including digital infrastructure, digital financial services, digital platforms, digital skills, and digital entrepreneurship.

Jul 19, 2026

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