The Imperative of Economic Opposition in Iraq
On February 27, 2025, economic specialist Mustafa Akram Hantoush emphasized the crucial role of economic opposition in Iraq’s future development. He articulated that "the economic opposition is a constructive force when grounded in analytical thinking and scientific research, drawing from successful experiences, and prioritizing societal interests. This approach can lead to proposals that align with societal requirements."
Hantoush further asserted that the effectiveness of such opposition hinges on its dedication to achieving stability and enhancing the well-being of the populace. The presence of a genuine economic opposition is vital in the upcoming period, he stressed.
According to recent data, Iraq ranks fifth in the Arab world and 46th globally among 196 nations regarding GDP for the year 2024. This placement underscores the need for strategic economic initiatives within the country.
The International Monetary Fund (IMF) has previously sounded alarms regarding Iraq’s financial expansion, particularly against a backdrop of declining oil prices, warning that such a strategy could exacerbate existing economic imbalances. While this financial expansion has spurred growth in 2024, it carries the risk of further deterioration in both financial and external accounts due to Iraq’s heavy reliance on fluctuating oil revenues.
Additionally, the IMF highlighted potential medium-term pressures on Iraq’s sovereign debt and external stability. The heightened global uncertainty, which includes the risk of a significant drop in oil prices and escalating regional conflicts, is amplifying these concerns.
To address these challenges, the IMF advocates for structural reforms aimed at unlocking the private sector’s full potential. Key recommendations include fostering equal job opportunities between public and private sectors, enhancing female participation in the workforce, and reforming education and labor laws to better align with the current economic landscape.
As Iraq navigates these economic challenges, the role of informed and dedicated economic opposition may prove essential in shaping a resilient and prosperous future.
