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Iraq - Reforming the economy for shared prosperity and protecting the vulnerable : Main report (English)

The Kurdistan Region of Iraq (KRI) is a constitutionally recognized semiautonomous region in northern Iraq. Its government, the Kurdistan Regional Government (KRG), based in Erbil, has the right, under the Iraqi constitution of 2005, to exercise legislative, executive, and judicial powers according to the constitution, except in what is listed therein as exclusive powers of the federal authorities. The Iraqi constitution defines the Kurdistan Region as a federal entity of Iraq. KRG has a parliamentary democracy with a regional assembly that consists of 111 seats. KRG is facing a wide range of immediate and medium to longer-term challenges that are intrinsically linked to the overall macroeconomic situation of Iraq as well as the regional and global environment. The immediate challenge consists in coping with (a) the deep fiscal crisis, and (b) the security and social problems brought about by the conflict with the Islamic State in Iraq and Syria (ISIS) group and the resulting influx of Syrian refugees and Iraqi Internally Displaced Persons (IDPs). These challenges are clearly immediate priorities for the KRG, and would bear significant repercussions nationally and internationally if inadequately addressed. The medium to longer-term challenges pertain to moderating dependence on the oil sector and transforming the KRI economy into a diversified one that supports private sector-led economic growth and job creation in a sustainable manner.

Details

  • Author

    Kulaksiz,Sibel, Goonesekere,Rapti A., Belhaj,Ferid, Kouame,Auguste Tano

  • Document Date

    2016/05/29

  • Document Type

    Working Paper

  • Report Number

    106109

  • Volume No

    1

  • Total Volume(s)

    2

  • Country

    Iraq,

  • Region

    Middle East and North Africa,

  • Disclosure Date

    2016/06/01

  • Disclosure Status

    Disclosed

  • Doc Name

    Main report

  • Keywords

    information and communication technology;Oil & Gas;Oil and Gas;regional and global value chains;female labor force participation;investment need;poverty and social impact analysis;Pensions and Social Insurance;social safety net program;Transport and ICT;education and training system;small and medium size enterprise;marginal propensity to save;marginal propensity to import;Technical and Vocational Education;adverse social impact;legal and regulatory framework;medium term expenditure framework;oil and gas industry;unesco world heritage site;Senior Financial Management Specialist;private sector development specialist;public financial management system;efficiency in public spending;Oil and Gas Sector;oil sector;fiscal crisis;access to finance;private investment;oil revenue;reform actions;economic reform;social insurance system;Electricity Sector Reform;social protection mechanism;Social Safety Nets;natural resource revenue;growth and development;

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Citation

Kulaksiz,Sibel Goonesekere,Rapti A. Belhaj,Ferid Kouame,Auguste Tano

Iraq - Reforming the economy for shared prosperity and protecting the vulnerable : Main report (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/229971468195834145/Main-report