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Iraq's Economy Booming
Many Iraqis who couldnât get jobs under Saddam Hussein because of their ethnicity, sectarian identity, or refusal to join the Baath party, are now working. The private sector economy is booming because Iraqis are investing in it, with some of the money coming from family members abroad. Thriving banks, restaurants, and furniture stores now occupy what were abandoned stores last year.In August, new business startups in Iraq exceeded 30,000. Individual Iraqis are better off financially than they have been for 20 years. According to the World Bank and International Monetary Fund, per capita income has doubled since the United States toppled the Saddam regime. There are more than 3.5 million cellular phone subscribers in Iraq, up from zero when Saddam ruled. Internet cafes are thriving in even small towns. Posted by: RG 2005-11-05 |
| http://www.rantburg.com/poparticle.php?ID=134155 |