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Saturday, February 21, 2004
Via AlphaPatriot comes this not-so-astounding account of the Iraqi economy, post-Saddam:
Iraq's economy is providing pleasant surprises, including booming consumer demand, strong oil revenue and healthy foreign exchange reserves, a top Treasury official said Thursday.
"The economy is beginning to work and thrive again and grow," John Taylor, undersecretary for international affairs, said by telephone from Baghdad.
U.S. occupation authorities estimate Iraqis have imported 1 million cars and trucks and more than 500,000 satellite dishes since fighting ended in April, Taylor said.
Other signs of improvement:
Oil revenue. On an annualized basis, oil exports are running $1.5 billion ahead of projections by U.S. authorities and Iraqi technocrats, who forecast 2004 revenue at $12 billion.
The currency. Iraq's new dinar, introduced in October, has gained value against the U.S. dollar. U.S. officials originally worried Iraq could deplete its foreign currency reserves if Iraqis weren't confident in the dinar.
Building materials. Demand for cement, asphalt and other construction material is boosting the economy, Taylor said.
Just remember, folks. Good news is no news as far as Iraq is concerned.
Labels: Archives_2004
.: posted by
Dave
2:35 PM
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