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Washington Times: the rise in Iraq’s economy similar to China and Brazil 20 years ago
2011-04-13 10:43:10

Beirut, April 11 (AKnews) – The Washington Times that Iraq was reviving economically in the current year at a time when neighboring countries in the Middle East, from an economic downturn in light of the ongoing political turmoil.

The paper pointed out that “the stock market, Iraq has witnessed up with average 25 percent in the first two months of the year 2011, with registered investment up by countries like the United States, Europe and the Gulf states, although the stock markets, the other Arab had declined a collective average of 15 percent .

The newspaper quoted an expert Kenneth Cohen, president of the “Global Ainafistmant” the Chicago-based company, specializing in the stock market of Iraq, that the Renaissance current Iraqi, began last December after the United Nations voted to recognize his government, the new and increased penalties imposed for many years on Baghdad.

The newspaper said that Iraq, which has one of the largest oil reserves in the world, also benefited from the surge in oil prices and access to more than $ 100 a barrel, due to concerns of unrest in the Middle East.

In spite of the protests in the streets last February by the Iraqis are demanding better services, but Cohen said that these demonstrations were different from those that took place in other countries in the region, they were not aimed at toppling the democratically elected Government.

In spite of the continued existence of economic risks, but Cohen said that “Iraq is still at the beginning of an economic renaissance could make him a symbol of stability and prosperity after years of suffering under one of the most economies in the region deteriorated and affected by violence.”

Kuhn said, “It is a historic moment for this market … they are in a position similar to China or Brazil site 20 years ago” for investments, business and growth prospects in the Iraqi economy. “