Reform of State Owned Enterprise and Public-Private Partnerships in Iraq
While Iraq is a middle-income (IBRD) country it faces significant challenges which are commonly found in low income countries. Its economy also remains dependent on hydrocarbons and revenue from these resources generates over 95 percent of budget r...
| Main Authors: | , |
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| Format: | Brief |
| Language: | English en_US |
| Published: |
World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/11/16988659/reform-state-owned-enterprise-public-private-partnerships-ppps-iraq http://hdl.handle.net/10986/20575 |
| Summary: | While Iraq is a middle-income (IBRD)
country it faces significant challenges which are commonly
found in low income countries. Its economy also remains
dependent on hydrocarbons and revenue from these resources
generates over 95 percent of budget revenues. However, this
sector employs only one per cent of the labor force. Iraq
has significant infrastructure reconstruction and
rehabilitation needs; and poorly performing regulatory
policies, institutions and processes. Developing a strong
and healthy private sector is necessary for Iraq to develop
into a diversified and resilient market economy with rising
living standards and sufficient jobs. In the meantime,
Iraq's transition to a more diversified market economy
continues to take place in a fragile political, security and
institutional context. The Government has also requested
support in implementing Public Private Partnerships (PPPs)
in Iraq. The Bank has helped build a consensus among
economic experts in the Government of Iraq that attracting
international private sector investors and operators is
critical to jumpstarting SOE reforms. Without such external
support, the SOEs will lack the business and management
expertise, as well as the access to capital which would
allow them to restructure these firms into companies that
could survive in the new Iraqi economy. |
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