E-MAIL THIS LINK
To: 

Iraq’s economy declines by half - BBC Corespondent is dumbstruck
EFL
The scale of the task facing the United States and several other countries the international community in Iraq has been highlighted by the first detailed figures since the conflict ended on the state of the Arab country’s economy. Iraq’s economy will shrink 22% this year, having fallen 21% in 2002 and 12% in 2001, the United Nations and the World Bank have estimated.
That’s amazing. Where are the productivity numbers for March and April? Why are they so low?
The figures, which have been published ahead of a major meeting of donor nations, suggest that reconstruction work in Iraq will be slower to take effect than originally hoped.
Based on projections obtained from Mrs. Green’s eight grade mathematics class in Racine, WI. — they are covering story problems.
Average income in Iraq fell from $3,600 per person in 1980 to between $770 and $1,020 by 2001 and will be just $450-610 by the end of 2003, the UN and World Bank said.
Check the divisor on that one. I expect there are fewer people in the country currently as opposed to 2001.
1980 was also just before Sammy decided to use all the country's money for an 8-year war with Iran, followed by Gulf War I, followed by sanctions. Did anybody think his economy was going to grow?
Even by the end of 2004, the two organisations estimate that average income could be lower than in 2001.
Estimates provide by CBE (Crack Baby Entreprises) and the independent firm (MLEBSS inc) My Lucky Eight Ball Says So.
Plans to restore oil and gas production, refining, and pipeline capacity remain unclear.
Its pretty clear to me what the new capacity of the pipeline to Syria is - 0.0 gpm
So they're saying that without new oil and gas production, income's expected to fall? That'd certainly be the case in Soddy Arabia. In Iraq, with a free market economy, if such a dip (actually a continuation of decline) took place, it'd be temporary.


Posted by: Super Hose 2003-10-11
http://www.rantburg.com/poparticle.php?ID=19745