Iraq's economy on long road to recovery

BEIRUT: Recent foreign aid and trade agreements provide hope that Iraq's economy, plagued by years of sanctions and violence, is on the road to recovery. Despite almost daily news of grisly atrocities, there have been a number of encouraging signs recently for Iraq's emerging economy.

GDP growth was estimated at 54 percent in 2004. This year is also expected to be strong, with GDP growth predicted at 34 percent.

Iraq's "New Dinar" currency, introduced in 2003, has been performing strongly, appreciating by about 25 percent against the dollar in the past two years.

As the fledgling government works toward drafting a constitution, a formal request for WTO membership is also pending.
http://www.dailystar.com.lb/article....ticle_id=17083

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