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The Kurdistan Region of Iraq : Reforming the Economy for Shared Prosperity and Protecting the Vulnerable

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World Bank (WB)

Abstract: 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. KRI has been largely immune to the insecurity and conflict witnessed elsewhere in Iraq, especially following the 2003 Iraq War. 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 will 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.
Type: Report
Economic & Sector Work
Economic & Sector Work :: Other Public Sector Study
Link: http://hdl.handle.net/10986/24706
Subject: TARIFFS
GOVERNMENT EXPENDITURES
ECONOMIC GROWTH
RENEWABLE RESOURCES
ENVIRONMENTAL PROTECTION
POLICY ENVIRONMENT
WASTE MANAGEMENT
AGRICULTURAL PRODUCTION
EXPECTATIONS
PRODUCERS
RESOURCE MANAGEMENT
PROPERTY RIGHTS
FINANCIAL RESOURCES
RESOURCE ALLOCATION
LABOR FORCE
RIVER BASINS
POLITICAL ECONOMY
REVENUES
ECONOMIC EFFECTS
INCENTIVES
EQUILIBRIUM
MODELS
SUSTAINABLE DEVELOPMENT
AGRICULTURAL OUTPUT
ECONOMIC ANALYSIS
AUDITS
WILLINGNESS TO PAY
ECONOMIC ACTIVITY
FISCAL POLICIES
EXPLOITATION
OIL PRICES
CROWDING OUT
OIL
POPULATION GROWTH
INDUSTRIAL WATER
LABOR PRODUCTIVITY
OPTIONS
SUSTAINABLE WATER
DEBT
BARRIERS TO ENTRY
POLLUTION
BENEFIT ANALYSIS
WELFARE GAINS
ECONOMIC POLICIES
AQUIFERS
DIVIDENDS
POLICY DECISIONS
PRICE SUBSIDIES
BARLEY
NATURAL RESOURCES
WATER BASINS
SUBSIDIES
EFFICIENCY
CERTAIN EXTENT
MARKET ECONOMIES
TAXES
ACCESS TO INFORMATION
LAND USE
ENTITLEMENTS
EFFECTIVE USE
RESOURCES
UNEMPLOYMENT
ENERGY CONSUMPTION
EQUITY
POTENTIAL INVESTORS
CONSUMPTION
ECONOMIC IMPACT
RURAL COMMUNITIES
CONTINUOUS MONITORING
WAGES
CLIMATE CHANGE
VALUES
ELECTRICITY DEMAND
MARKET PRICES
IMMUNITY
POLICY MAKERS
CREDIT
PURCHASING POWER
DEMAND
CPI
SUSTAINABLE USE
NATIONAL INCOME
SUSTAINABLE GROWTH
AGGREGATE DEMAND
PUBLIC EXPENDITURES
ELECTRICITY GENERATION
EXPENDITURES
PUBLIC GOVERNANCE
COST BENEFIT ANALYSIS
PROPERTY
LOGGING
DECISION MAKING
TAX RATES
TRANSACTION COSTS
ENVIRONMENT
GLOBAL CLIMATE CHANGE
ECONOMIC SITUATION
STREAMS
ECONOMICS
SECURITIES
TAX REVENUE
ENERGY EFFICIENCY
CAPITAL GOODS
ECONOMIC DEVELOPMENT
TRADE
POLLUTERS
MARGINAL PROPENSITY TO SAVE
LAND
DRINKING WATER
PRICE CEILINGS
COMMERCIAL BANKS
COMPARATIVE ADVANTAGE
COMPETITIVE MARKETS
OIL RESERVES
WATER POLLUTION
REVENUE
NATIONAL INCOME ACCOUNTING
PRIVATE CONSUMPTION
SCIENTIFIC RESEARCH
LIVING CONDITIONS
RECYCLING
TAX REFORM
PROPERTY VALUES
PROFITS
ENVIRONMENTAL
COST SAVINGS
LABOR MARKETS
PUBLIC GOOD
DEMOGRAPHICS
PRICES
CONSUMER PROTECTION
OIL SECTOR
ECONOMIC CONDITIONS
ECONOMIES
POPULATION DYNAMICS
PUBLIC GOODS
COMPETITION




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