Will the Kurdish economy last for long on easy money?
‘nanny state’ number of government paid employees.
This left little money for economic expansion and growth. Sectors like agriculture and tourism have significant economic potential and a distinct comparative advantage in the region. The plentiful water resources of the Tigris and Euphrates rivers, the fertile soil, the favorable moderate climate are just a few agricultural advantages. Naturally flowing from this is the beauty of nature, variety of terrain, historic and touristic attractions are all great advantages for Kurdistan to become a booming tourist economy.
It seems the recent stoppage of the (lottery) money from Baghdad has taught the Kurds a lesson. Economic independence is a must, and easy money is never guaranteed. The Kurdish economy cannot grow in its current form with its sole reliance on oil revenues. It must diversify into the other sectors mentioned above in order to have a sustainable economy.
Most of all, more investment is needed in Kurdish manpower through education and government action that will impel Kurds to get off their butt and begin work more.