PM Barzani discusses economic diversification, anti-corruption efforts, and border security in exclusive interview

ERBIL (Kurdistan24) — In the second part of an exclusive interview aired on Sunday by Al-Arabiya and Al-Hadath channels, Kurdistan Region Prime Minister Masrour Barzani discussed his administration’s ongoing efforts to diversify the economy, combat corruption, and restore stability in conflict-affected border regions.

Economic Diversification and Reforms

Prime Minister Barzani highlighted his government’s determination to reduce dependency on oil and gas revenues by diversifying the economy of the Kurdistan Region.

"From the moment I assumed office of the Kurdistan Regional Government’s (KRG) Ninth Cabinet, I focused on diversifying revenue streams. We are no longer solely reliant on energy; oil and gas are not the only sources of income for the Kurdistan Region," Barzani said.

The prime minister emphasized several reforms aimed at improving public services, noting significant efforts to digitize government services, reform the banking sector, and streamline ministry operations. "We have also taken steps to reduce government expenditures and reorganize government affairs using accurate data and scientific methods," he added.

Anti-Corruption Initiatives

Barzani reaffirmed his government’s commitment to fighting corruption, particularly in the investment sector, where allegations of bribery have surfaced.

"Corruption and bribery are unacceptable. We have worked hard to prevent illegal behavior. If any investor has clear evidence of unfair treatment, the government is prepared to investigate and take action," he said, stressing the importance of creating a corruption-free investment environment.

While acknowledging the complexity of the issue, the prime minister expressed optimism about the progress made in tackling corruption. "This is not an easy issue to resolve overnight, but we have already taken significant steps to reduce corruption. We will not allow it to continue and will make every effort to eradicate it," he said.

Border Security and Reconstruction

Addressing the ongoing conflict in the border areas, Barzani spoke about the challenges posed by military confrontations in the region, which have hindered efforts to rebuild villages.

"Many residents in these areas rely on livestock and farming for their livelihoods. We aim to restore peace, respect the authority of the Kurdistan Region and Iraqi sovereignty, and bring investors back to these areas," Barzani said, expressing his hope for an end to hostilities.

MyAccount Initiative

The prime minister also highlighted the KRG's efforts to modernize the economy through the launch of the 'MyAccount' initiative, which aims to reduce the country’s reliance on cash transactions.

"This initiative allows citizens in both the public and private sectors to open personal bank accounts, providing access to services such as loans. It will help combat corruption, reduce money laundering, and open new opportunities for the Kurdistan Region on the global market," Barzani said. He added that the initiative would involve banks authorized by the Central Bank of Iraq.