Where is the Kur­dish econ­omy head­ing?

The Kurdish Globe - - SPORT NEWS - Swara Kadir

many par­ties, the amount is es­ti­mated to be around 15 bil­lion dol­lars. Sec­ond: the price of crude oil is too low. Third: the I.S.I.S threat is cost­ing too much money and is slow­ing down the eco­nomic growth of the Re­gion.

Is it all doom and gloom though? It’s not as bad as what we see on some of the scare­mon­ger­ing news chan­nels. I.S.I.S is be­ing pushed back to Syria and is los­ing con­trol in Iraq. The up­com- ing of­fen­sive to re­turn Mo­sul to Iraqi gov­ern­ment rule will be a big turn­around po­lit­i­cally. There­fore, it will boost con­fi­dence in the econ­omy, and at­tract for­eign in­vestors.

Crude oil prices are un­likely to stay low for­ever. Cur­rently it’s sta­bi­lized in the $50-60 dol­lars re­gion, and ex­perts are pre­dict­ing an­other rise within a year or two. This will in­crease the na­tional rev­enue to Kur­dis­tan and Iraq. It will also help pay­ing off the debt that the Kur­dis­tan Re­gional Gov­ern­ment has in­curred.

The main les­son to be learnt from all this is that Kur­dis­tan needs to find al­ter­na­tive, worth­while means of na­tional in­come apart from the easy oil money. It needs to in­vest in agri­cul­ture and tourism, two sec­tors that could pro­vide a vi­able al­ter­na­tive.

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