Unemployment Increases in Kurdistan Region

By John Lee.

BasNews reports that the unemployment rate in Kurdistan has risen from 7 percent at the end of 2013 to 10 percent currently. The number unemployed is nearly 100,ooo, of which 52 percent are men.

The increase has been blamed on the general economic situation in Iraqi Kurdistan, and on the sanctions that Baghdad has put on the region.

The Statistics Director in Sulaimaniyah, Mahmud Osman, believes that the increase in unemployment is mainly due to the lack of job opportunities for university graduates, and the lack of availability of loans to youths.

According to the data of the Ministry of Planning, in the first six months in 2013, the unemployment rate stood at 5.2 percent.

Meanwhile, Iraqi social affairs Minister Naser Ruba’i revealed that 46 percent of Iraqi citizens are jobless.

According to data obtained by BasNews, there are approximately 3000 contractor projects, 70 percent of which have come to a halt due the recent violence in northern Iraq.

“In respect of the current economic crisis and IS attacks, markets and projects have stopped. The government must have a serious plan in order to survive the current situation that Kurdistan is going through”, said Yassin Mahmud, spokesperson for Kurdistan Investment Union.

According to Investment Unions official, 14 billion dollars [16.3 trillion Iraqi dinars] was invested in the region in 2013, but this has fallen to only 3 billion dollars [3.5 trillion Iraqi dinars] in the first 8 months of this year.

(Source: BasNews)

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