Insecurity Imperils Economic Progress

May 2007 | Economic Analysis

BMI View: A draft petroleum law, proposals for structural reforms and foreign investment in the Kurdish area suggest improvement, but are insufficient to provide a sustained uplift in economic growth. The oil sector will be unable to punch above its weight, so long as political agreement on the mechanisms for investment in hydrocarbons is elusive. Corruption and violence will undermine efforts to capitalise on the propitious climate in global oil markets.

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