In a report on Iraq's economic situation, Bloomberg reports that one of the country's main problems is the oil monopoly economy.

Referring to the ongoing popular protests in Iraq and the dire financial situation of the Iraqi government and people, Bloomberg described the country's economic situation as more critical than ever.

Bloomberg magazine has attributed the holding of the independence referendum by the Kurdistan Region to the aggravation of the dire situation in Iraq.

It also referred to the differences between the Kurdistan Region and the central government over their commitment to reduce crude oil production based on the OPEC Plus decision.

"While the OPEC Plus decision covers all the oil produced in Iraq, Iraqi Kurdistan has its own oil policy," it wrote.

Reporter’s code: 50101