Baghdad, Iraq – The Ministry of Planning has revealed the financial and investment framework for Iraq’s 2024–2028 five-year development plan, forecasting total revenues of approximately IQD 710 trillion over the implementation period.
According to Ministry spokesperson Abdul Zahra Al-Hindawi, the oil sector will remain the backbone of Iraq’s economy, with expected revenues reaching IQD 631 trillion. Meanwhile, non-oil revenues are projected at around IQD 79 trillion, reflecting ongoing efforts to diversify national income sources.
The plan also estimates that achieving the targeted 4.24% economic growth rate will require more than IQD 241 trillion in investments. Of this amount, the public sector is expected to contribute approximately IQD 157 trillion, while the private sector will account for IQD 84 trillion.
In terms of capital formation, the oil sector will command the largest share at 27.4%, followed by residential property ownership at 22.5%, and social development services at 20.8%. The water and electricity sector will represent 8.6%, while manufacturing will receive about 7.8% of the planned capital formation.
The Ministry emphasized that these strategic allocations are designed to stimulate sustainable growth, improve infrastructure, and strengthen Iraq’s socio-economic foundations over the next five years.
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