Iraq faces significant economic challenges, owing in part to its reliance on oil revenue and the country's overburdened public sector. The supremacy of State-Owned Enterprises (SOEs), obstructive rules, a lack of access to finance, a shortage of skilled labor, and inadequate infrastructure all impede private sector growth. This research relied mainly on information from global development organizations, most markedly the World Bank, as well as policy documents, and it discovered a scarcity of pertinent educational writings. The following are the key findings of this research: Recent economic growth has not resulted in poverty reduction; the stretched history of war and insecurity in Iraq has hampered progress and development; the private sector is critical to creating jobs and promoting long-term growth; State-Owned Enterprise (SOEs) dominance; the bloated, inefficient government sector; laws and regulations impede the development of the private sector; and difficulties in obtaining financing. Future prospects to promote inclusive and long-term growth through SMEs sector in Iraq are also discussed in the paper.
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Receipt date: 12/28/2020 accepted date: 20/1/2021 Publication date: 12/31/2021
This work is licensed under a Creative Commons Attribution 4.0 International License.
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