Development and Reconstruction

Iraq has abundant human and natural resources: a population of about 30 million, the world’s third-largest oil reserves, considerable gas reserves, and ample water resources. It attained the status of a middle-income country in the 1970s, developing good infrastructure and well-performing education and healthcare systems.  However, over the past 25 years, dictatorship, wars, and international sanctions have undermined the country’s institutions and crippled its economy.  GDP fell by 41 percent in 2003. The economy rebounded in 2004, growing by 46 percent, but annual growth slowed over the 2005-2007 period...

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