Iraq economy

3 Stories

Iraq, Economy Stalling, May Be Broke by Next Year

Drop in oil price has gutted nation's income

(Newser) - Some people thought Iraq wouldn't be affected by the worldwide economic downturn, says an Iraqi economist. "Those people were stupid." At the very least, they were wrong: Sales of consumer goods are in the basement, along with real estate, and the unemployment rate hovers around 25%. Surpluses from... More »

In Safer Cafes, Iraqis Smoke It Up Again

(Newser) - Iraqi men are hanging out in hookah cafes again, confident that government spies are no longer eavesdropping from the next sofa, the Los Angeles Times reports. Popular throughout the Mideast and hip in Western cities, shisha clubs have only recently reemerged in Iraq, thanks partly to increased security. "We... More »

Fake Raids Test Iraqi Reconstruction

U.S. aid to small businesses works only if it's invisible. Otherwise, companies get 'immediately shot or blown up.'

(Newser) - The American military is staging fake raids on Iraqi small businesses to confirm that US aid is being well spent—without tipping off insurgents that they have any US connection. "The only way things will work is if the US contribution is totally invisible," says a civil-affairs officer,... More »

3 Stories