Iraq: Oil Revenues, Economic Growth and Decreased Violence had Little Impact on Iraq's Poor

Jan 28, 2015 | World Bank
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In 2012, one-fifth of Iraq’s population lived below the poverty line, and a significant share of the Iraqi people was vulnerable to falling into poverty, according to a new World Bank Group report. Although the country experienced high economic growth, averaging seven percent annually between 2008 and 2012, poverty fell by only 4 percentage points during this time, and the richer segments of the population reaped more of the benefits

Iraq has been a nexus of conflict and fragility for decades, and faces yet another crisis today, which will have important implications for the welfare of its people. Addressing this crisis will take time and concerted effort; however, there may be important lessons from the recent period of relative peace, 2007-2012, that can help identify and address the root causes of poverty, exclusion, and continued violence and insecurity.