5/5/2010Iraq's economy rises again
Washington / Orr News
Iraq has recently appeared in the signs of signs of life and economic recovery, and profits grew from about 600 thousand dollars in 2004 to more than 16 million dollars, according to Business Week newspaper Blomng U.S..
The newspaper said that there is an encouragement for private investment, although that will not be easy, but investment and products from abroad started pouring in, along with the oil.
James Hogan, general manager of one of the foreign investment companies in the country, "We believe the timing is right," and adds: "The Iraqis began to re-establish contact with the outside world."
The funds resulting from higher oil production rate of the engine of growth, with the increasing demand for housing and infrastructure improvements. (بي بي) واكسون موبيل ( XOM Now that the government awarded contracts worth billions of dollars to oil company British Petroleum (BP) and Exxon Mobil (XOM China National Petroleum, and others, there were signs of blossoms appear.
International Monetary Fund figures confirm that the economy may grow by 7.3% in 2010, while in 2003 the economy was barely beating.
UR News Agency
