To gain a deeper understanding of the issue of Iraq’s and the Kurdistan Region’s dependence on oil and the diversification of revenue sources, an open dialogue was held at the Vision Foundation in partnership with the Kurdistan Technical Institute. During the discussion, several important and varied proposals were presented, which could serve as a starting point for addressing the economic challenges facing Iraq and the Kurdistan Region.
The discussion highlighted that instead of relying solely on oil, it is crucial for Iraq and the Kurdistan Region to make efforts to support other key sectors, whether in agriculture, tourism, or trade. The dialogue also detailed various ways through which revenues could be increased.
It was pointed out that, compared to neighboring countries, Iraq is in one of the worst situations in terms of dependence on oil, and that its efforts to diversify the economy and change the country’s economic structure are neither serious nor effective. Regarding the budget, Iraq faces annual deficits, which worsen with further declines in oil prices, leading to an even larger budget shortfall.
Today, Wednesday, 28/1/2026, the Vision Foundation for Strategic Studies organized a dialogue entitled“Diversifying Revenue Sources and the Implications of Falling Oil Prices,”with the participation of dozens of academics, experts, specialists, and economists. During the discussions, emphasis was placed on the fact that Iraq relies on oil revenues for 90% of its income, which was described as a serious risk to the country’s unstable economy.