Iraq’s total investments have reached approximately $60 billion, while external debt has significantly declined to $9.8 billion, according to Mohammed Sahib Al-Daraji, technical advisor to the Prime Minister.
Speaking to the Iraqi News Agency (INA), Al-Daraji stated that Iraq’s gross domestic product (GDP) now exceeds $260 billion, reducing the country’s external debt-to-GDP ratio to a minimal level. This, he noted, creates opportunities for new external financing under carefully planned conditions. Iraq’s external debt has decreased from $20.9 billion to $9.8 billion, marking a significant reduction.
Al-Daraji emphasized the importance of directing financial resources toward productive projects that can repay their debts, rather than consumer-driven or poorly planned initiatives.
Regarding current investments, he highlighted that about $60 billion in local and foreign investments are concentrated mainly in the real estate and housing sectors, which he sees as a positive development. However, he stressed the need to strengthen the role of Iraqi investors and encourage them to diversify investments.
He also pointed out that a large amount of cash remains outside the banking system, stored in homes, making it economically inactive. Al-Daraji called for channeling this capital into investment projects that could transform it into valuable assets, supporting Iraq’s economy and promoting sustainable development.
