Pathways for Climate Investment in Iraq
Iraq's Climate Investment Plan (CIP) marks a turning point in the nation's ambition to tackle climate change impacts and drive economic diversification by strategically integrating climate change considerations into future investments, according to a statement from the United Nations Development Programme (UNDP).
It continues:
"This marks a turning point in the nation's ambition to tackle climate change impacts and drive economic diversification through strategically integrating climate change aspects in future investments.
"This transitional phase can steer technological transfer and adequate innovation and mobilize financial resources to address the most pressing climate change adaptation and mitigation challenges while scaling up the transition to a more sustainable and bright future for Iraq's population.
"The CIP strives to foster sustainable economic growth by promoting energy efficiency investments and sustainable water and agriculture practices. By doing so, it aims to create new job opportunities, spur innovation, modernize its multi-faceted industries and services, and diversify Iraq's economy.
"CIP also lays the groundwork for a more resilient, sustainable, and low-carbon future for all Iraqis. It underscores the country's commitment to global environmental sustainability efforts while leveraging international support and expertise to maximize impact and achieve tangible results."
Click here to download the full report [English]
Click here to download the full report [Arabic]
To browse our comprehensive library of reports on Iraq, click here.
(Source: UNDP)
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Iraq: Selected Economic Indicators, 2024-26 Population: 44.4 million (2024 est.) Per capita GDP: US$ 6,183 (2024) Quota: SDR 1,663.8 million Poverty rate: 23 percent (2014) Main products and exports: Crude oil Key export markets: United States, India, China, South Korea 2024 2025 2026 Est. Proj. Output Real GDP (% change) -2.3 3.1 1.4 Non-oil real GDP (% change) 2.5 1.0 1.5 Prices Inflation, end of period (%) 2.7 2.9 2.9 Central Government Finances Revenues and grants (% of GDP) 39.3 36.9 34.6 Oil revenue (% of GDP) 36.0 33.3 31.0 Expenditure and net lending (% of GDP) 43.5 44.4 43.8 Wages and pensions (% of GDP) 22.0 24.0 24.5 Fiscal balance (% of GDP) -4.2 -7.5 -9.2 Non-oil primary balance (% of non-oil GDP) -59.3 -54.2 -51.8 Total government debt (% of GDP) 47.2 47.2 62.3 Money and Credit Broad money (% change) -4.3 9.6 4.9 Credit to the private sector (% change) 14.3 5.4 8.4 Balance of Payments Current account (% of GDP) 2.0 0.2 -1.9 Foreign direct investment (% of GDP) 0.0 0.0 0.0 Gross reserves (US$ billions) 100.3 91.0 79.2 In months of imports 11.1 11.1 9.6 Total external debt (% of GDP) 20.6 20.8 21.0 Exchange Rate Exchange rate (dinar per US$; period average) 1300 1300 1300 REER (% change, end of period)1/ ... ... ... Oil and Gas Sector Crude oil production (millions of barrels/day) 3.9 4.1 4.1 Crude oil exports (millions of barrels/day) 3.4 3.5 3.5 Average crude oil export price (US$/barrel) 80.6 65.9 62.0 Crude oil exports (US$ billions) 99.2 84.2 79.2 Sources: Iraqi authorities; and Fund staff estimates. 1/ Positive means appreciation. [1] Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies. On return to headquarters, the staff prepares a report, which forms the basis for discussion by the Executive Board. [2] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions. See original report here. (Source: IMF)
