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Iraq Aims to Slash Unemployment from 16.5% to 4% by 2028

2/25/2025

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Summary

Story summary

Iraq faces a staggering unemployment rate of 16.5% in 2023, with youth unemployment soaring to 36%. In a bid to combat this crisis, the government is targeting a reduction to 4% by 2028, emphasizing growth in the non-oil sector and launching a new bank for small and medium enterprises. Meanwhile, the population is expected to swell to nearly 51 million by 2030, intensifying the urgency for effective solutions.

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Story summary

Iraq faces a staggering unemployment rate of 16.5% in 2023, with youth unemployment soaring to 36%. In a bid to combat this crisis, the government is targeting a reduction to 4% by 2028, emphasizing growth in the non-oil sector and launching a new bank for small and medium enterprises. Meanwhile, the population is expected to swell to nearly 51 million by 2030, intensifying the urgency for effective solutions.