While much of the developed world struggles to drag itself out of recession, Iraq managed to register real GDP growth of 9.9% last year, according to IMF estimates.
Their projection for this year is 11.1 percent, followed by 13.5 percent next year, giving compounded growth over the three years of nearly 40%.
Iraq may have its problems, but economic growth is not one of them.
“There’s a tremendous imbalance between the potential wealth of Iraq and its current situation in terms of both consumer goods and infrastructure,” Farouk Soussa, Middle East chief economist at U.S. bank Citi, told Reuters.
“When it happens, the catch-up will be immense. A lot of people are positioning themselves for this.”
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