The Kurdistan Regional Government is currently working on implementing a reform program in order to overcome these crises and create a developing economy in the future. Quick procedures of abstinence and direct oil exportation to abroad lead to the Kurdistan regional government (KRG) to have better cash balance. At the same time, it launches with administrative reform to solve long-term problems, through changes in the public sector and efforts to expand economic resources. Kurdistan’s economic suffers are deepening due to oil price decreases in previous years and the KRG’s efforts in finding new sources to support the region’s budget. Meanwhile, continuous defensive and war with Isis fighters led to damage Kurdistan economy, which this is despite the military expenditures and case of refugee cooperation. On the other hand, the corruption case that the presidency of the Kurdistan region has demonstrated on. All of these make doubt that the KRG can overcome on this complex economic and political situation. We should also mention that despite these problems, all of Peshmerga frontlines have not yet been exiled and have the ability to defend and advance. In the past few weeks, dozens of Peshmerga have been martyred for the sake of this land.
The hindrances to the economic reform process in the Kurdistan Region
1.The lack of a clear economic system in the Kurdistan Region.
2.The Lack of a developed administrative institution that has been established on all three scientific, flexibility and renewal basics.
3.The weakness of the private sector and the lack of transparency. The lack of a developed production base.
4.A classical method in system of teaching and linking learning process to the reality of the economy and marketing.
5.The Lack of planning and active statistical institution. In the past till present, the Kurdistan region’s major problems are the lack of information and statistics system on the life of the community.
6.The lack of social justice, high unemployment and poverty problems in Iraq in the Kurdistan Region. Statistics from the Iraqi Ministry of Planning on the poverty rate revealed that the family’s low income rate is higher than in Baghdad compared to Kurdistan.
7.Weakness and shortcomings in offering public services.
8.The lack of a developed bank.
9.The problems of sectors of industry, tourism and agriculture.
10.The lack of clear views on science and technology logics in Kurdistan. Ignorance of scientific researches on the decision-making of politics and KRG’s decision.
11.The lack of strengthen economic media due to offer investment’s opportunities to the world. Furthermore, working on increasing people’s economic education in Kurdistan.
12.Presence of legal problems, institutional and region’s politics with Baghdad because the region is not a state due to deal independently with other states.
