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| Israel-Palestine-Jordan |
| Iraq's Economy Booming |
| 2005-11-05 |
| Many Iraqis who couldn’t 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 |
| #9 They (the Iraqis) are a damn sight more business oriented and motivated that most in Kuwait, Bahrain, or the rest of the Gulf. I don't recall them using third country nationals (TCN's) and don't mind getting thier hands dirty. In 1994 the exchange rate was 250 Dinar to the USD. It got worse after that. I would say a comeback is entirely possible. Babylon, Nineveh and some of the other ancient sites will bring tourism. |
| Posted by: Besoeker 2005-11-05 21:16 |
| #8 Another factor is their banking / currency system. An acquaintance of mine was a senior consultant to them as they redid the banking laws and currency ... they're positioned to blend well with international banking regimes as the economy grows. |
| Posted by: lotp 2005-11-05 21:08 |
| #7 Seriously, if any of you are in an investing mood, Iraq is the place to be. J. Paul Bremer set them up financially in such a way that all else being equal, their economy will explode four or five times faster than did MacArthur's Japan. In 10-15 years, I expect that the Iraqis will be "farting through silk", economically. The Dinar may be on a par with the Swiss Franc, and their stock market will be one of the top 10 in the world. Right now, major Iraqi startup corporations that cost a few pennies a share will be worth a bleedin' fortune. |
| Posted by: Anonymoose 2005-11-05 20:06 |
| #6 The only way it will be in the papers is if the MSM- DNC figures out a way to spin it negative for Bush. example: "Bush is busy building up Iraq's economy but neglecting the US economy...." |
| Posted by: Thravilet Photing9369 2005-11-05 19:48 |
| #5 Many Bill darling, how does this look for my convention acceptance speach. Outstanding Hillary, great lead in! |
| Posted by: Besoeker 2005-11-05 19:24 |
| #4 So this'll be in the Sunday papers, right? Post, Times, Globe? |
| Posted by: Bobby 2005-11-05 18:46 |
| #3 now, look for MSM warnings of climbing inflation due to lack of savings in Iraq...Quagmire! |
| Posted by: Frank G 2005-11-05 18:34 |
| #2 I wonder how many start-up were reported in France in August? |
| Posted by: 49 pan 2005-11-05 18:09 |
| #1 QUAGMIRE!!!!! |
| Posted by: CrazyFool 2005-11-05 18:02 |