The Fastest Growing Economy In 2012? Iraq

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Sure Iraq today is bitterly divided among ethnic lines, and is still suffering from waves of violence including this September’s landmark of being the deadliest month in 2 years, but based on multiple reports, Iraq will finish 2012 with the highest percentage of GDP growth in the world. Yes, oil has almost everything to do with it.  And this trend looks to continue for the next 5 years.

EIU said that they expect Iraq’s economy to grow by a vigorous 9% on average during 2013-17, primarily by the rise of oil production. Especially in the central areas around Baghdad may continue to interrupt the economy because of the violence, yet improvement would not stop its journey and overall security situation will be handled in proper way.

Isn’t that what freedom is truly about?

Read more at Iraq Directory.

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2 thoughts on “The Fastest Growing Economy In 2012? Iraq

  1. What is freedom truly about then? Pumping oil while the world crashed down around you?
    Goes to show – GDP and growth of economy are in no way reliable measures for the quality of life.

  2. Another way to think about it would be to consider that when an economy devolves under the heavy boot of 10+ years of sanctions, removing that will result in the appearance of big gains. It becomes even more pitiful when you realize that the gains are about exporting a commodity, and not about real economic development that does improve the quality of life.

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