Iraq's government finally has grounds for optimism. Oil prices are hovering above $60 per barrel; the resource-rich province of Kirkuk and other disputed territories occupied by the Kurds since 2014 are firmly back under its control; and the devastating three-year conflict with Islamic State is effectively over. But the cost of rebuilding the country and improving basic public services are huge. With oil revenues expected to account for 84% of its projected income in 2018, Baghdad urgently needs to secure foreign investment in the oil sector, and on that front the signs are mixed.
展开▼
