Milutinovic has led five different squads into the World Cup finals.
The Serb did not reveal his plan after the inter-continental tournament, but he hailed the performance of his players.
"Although with little time together, the Iraqi players had excellent performance. I thank them for their support," he said.
"I hope the boys are able to play football with freedom in Iraq, bring happiness to Iraqi people. The boys have tried their best."
For next year's World Cup host, the coach called for support from everybody participating in the Confederations Cup. "South Africa deserves it and Africa deserves it," he said.
In the other Group A match, European champion Spain thrashed South Africa 2-0. The result however sent both sides into the semifinals.
The final round of Group B match will be played on Sunday in Rustenburg and Pretoria.
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