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Investors Iraq News
08-28-2015, 07:19 PM
Iraq’s economic framework battered by IS war

In business since the 1960s, Karim al-Aboudi's family has seen Iraq's economy boom with oil wealth and bust through wars and the 2003 U.S.-led invasion, but today marks the worst downturn he's seen in decades. Forced to fire 65 percent of his staff and close two of his six aluminum and glass factories, al-Aboudi's troubles mirror those facing business owners across Iraq. As the country battles the Islamic State group on the ground, it faces massive budget deficits brought on by the lowest global oil prices

Source: IraqDirectory.com (http://www.iraqdirectory.com/en/2015/08/28/29996/iraqs-economic-framework-battered-by-is-war.aspx)

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