danpeg
10-07-2004, 01:14 PM
Collapse of the currency, hyperinflation and economic meltdown were genuine fears when Iraqi President Saddam Hussein was ousted, but initiating key structural reforms have smoothened the transition from a centralized economy to a free-market system, according to the Iraqi finance minister.
Problems in the economic sphere remain though, Mahdi pointed out, are chiefly high unemployment, a large number of state-owned enterprises, the badly damaged infrastructure, and most importantly, the "large overhang of foreign debt."
...
"Consumer prices have been stable this year, (the) exchange rate has remained largely unchanged and active," Mahdi said. "Growth is expected to be 50 percent in 2004-05," he added.
By Growth he is referring to the economy - not the dinar.
http://www.menafn.com/qn_news_story.asp?StoryId=CqwnTWeidAxjHCs1TAw5PC3r LCG
Problems in the economic sphere remain though, Mahdi pointed out, are chiefly high unemployment, a large number of state-owned enterprises, the badly damaged infrastructure, and most importantly, the "large overhang of foreign debt."
...
"Consumer prices have been stable this year, (the) exchange rate has remained largely unchanged and active," Mahdi said. "Growth is expected to be 50 percent in 2004-05," he added.
By Growth he is referring to the economy - not the dinar.
http://www.menafn.com/qn_news_story.asp?StoryId=CqwnTWeidAxjHCs1TAw5PC3r LCG