Experts: True Development Requires Investing Oil Revenues in Service and Productive Sectors

Economic experts have emphasized that increased oil exports and production in Iraq do not automatically translate into improved living standards for citizens, asserting that real development requires directing these revenues toward strategic projects and comprehensive economic reforms. Specialists noted that the Iraqi economy remains rentier-based, relying almost entirely on oil, which leaves it vulnerable to global market fluctuations. It was highlighted that the bulk of revenues is consumed by operational expenses and government subsidies, while investment allocations remain subpar. Experts called for accelerating support for productive sectors such as industry, agriculture, and tourism, pointing out that the true measure of economic success is the quality of public services and job creation, rather than merely export volumes.