The Kurdistan Region of Iraq

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.

Bibliographic Details

Main Author:	World Bank Group
Format:	Report biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2016-05-30
Subjects:	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,
Online Access:	http://documents.worldbank.org/curated/en/2016/06/26436647/kurdistan-region-iraq-reforming-economy-shared-prosperity-protecting-vulnerable-vol-2-main-report https://hdl.handle.net/10986/24706
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