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Iraq lost 30 billion dollars due to world crisis - economic analyst

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Aswat Al Iraq / Economy , Karbala

Iraq lost 30 billion dollars due to world crisis - economic analyst

11/14/2011 6:12 PM

KARBALA / Aswat al-Iraq: Iraqi academician disclosed that Iraq lost during the recent world financial crisis about 30 billion dollars, due to the decline in oil prices, pointing that 7 million Iraqis are living below poverty line.

Professor Dr.
Hakim al-Rubai'i, Kerbela university, told Aswat al-Iraq that the world suffered about 250 economic crises during the last century, during which Iraqi economy was affected despite officials' denials of not being affected.

He confirmed that Iraq lost about 30 billion dollars due to the decline in world oil prices.

Professor Rubai'i added that "the 30-year wars destroyed Iraqi economy, including the loss of 510 billion Sterling Pounds for the Iraqi-Iranian war alone".

He added that the war compensations affected the decline of Iraqi economy that led to the increase in of poverty which touched 7 million Iraqis.

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