Security wise most of the provinces are safe. South and central Euphrates as well as the Kurdish region are safe. The security is still not perfect in the Sunni and mixed areas, but it is much better than before. The Army and police control all the cities and towns unlike before. But the problem is terrorists use distrust tactics such as car bomb or IED's and usually target civilian areas, so it's really hard to prevent all the terrorist attacks.
The north Kurdish region or "kurdistan" is pretty much a country, they have their own government and army.
The economy is much better, construction is starting to boom, but not as quick as it should be.
But there are major problems regarding the development. Corruption and bureaucracy are halting real development. This is mainly because the government is run manually.
Electricity is still not available 24/7. Most of the government associations work manually (all paperwork rather than electronic), also no proper banking system. The vast majority of the people don't have bank accounts.
Hopefully once these problems are solved in the couple years to come the "real" boom in iraq will begin.
So it's far from perfect, but going the right way.
After all, Iraq has just gotten out of 30 years of constant destruction. No real construction has been going on since 1980's.