The Financial Times ran an article on Wednesday by Farouk Soussa, Citigroup’s Chief Economist for the Middle East. While we’re all used to hearing the statistics and projections, Mr Soussa gave us a more engaging metaphor for Iraq’s potentially prosperous future: “Beneath the unsettled surface, Iraq is an economic giant, slowly but surely awakening after a 30-year slumber.”
But the article does not ignore the obstacles to Iraq’s growth, including security risks, governance issues, and corruption. “The uncertainty is great. But then again, so is the opportunity.”
All of this will be well known to regular readers of Iraq Business News, and we’ll continue to present all facets of commercial life in Iraq – the uncertainties and the opportunities.
This week, for example, our resident security expert, Dr Mike Knights of Olive Group, shares his perspective on the evolving security situation in the country. Yet, against that background, we still see universities expanding, houses being built, and oil and gas fueling the country’s redevelopment.