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Report for Congress Received through the Crs Web

By Sanford, Jonathan E.

Book Id: WPLBN0000661575
Format Type: PDF eBook
File Size: 704.92 KB.
Reproduction Date: 2005

Title:	Report for Congress Received through the Crs Web
Author:	Sanford, Jonathan E.
Volume:
Language:	English
Subject:	Trade, Import and export controls, Export controls--United States
Collections:	Export and Trade Collection
Historic Publication Date:
Publisher:	Federal Trade Commissionn (FTC)


Citation APA MLA Chicago Sanford, J. E. (n.d.). Report for Congress Received through the Crs Web. Retrieved from http://self.gutenberg.org/

Description
Export and Trade Government Reference Document:

Excerpt
Excerpt: Iraq's Economy: Past, Present, Future Summary: For most of its history, the government of Iraq has played an active role stimulating and directing the Iraqi economy. This pattern was most pronounced during the recent regime of Saddam Hussein, which was at root a centrally-directed command economy with some trappings of market economics and crony capitalism. Iraq?s industrial sector was created, in large part, as a result of government efforts to diversify the economy through economic development projects using the proceeds from Iraq?s oil wealth and borrowed funds. Many of these initiatives were not viable without government subsidies. Much of the industrial base has now been destroyed, either by direct attack in the Iran-Iraq or the two Gulf wars or through atrophy caused by neglect. Iraq has suffered absolute declines in gross domestic product (GDP), chronic inflation, wholesale depreciation of its currency, virtually non-existent foreign investment and the accumulation of a crushing debt burden.

Table of Contents
Contents Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Government and the Economy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 The Constitutional Monarchy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Economic Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 The Military Regimes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Governments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Economic Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 The Baathist Regime . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Government . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Economic Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Demographic and Social Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Role of Women in the Government and Economy of Iraq . . . . . . . . . . . . . . 7 Iraq?s Economy in Recent Years . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Macroeconomic Policy and Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Economic Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Gross Domestic Product (GDP) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Currency and the Balance of Payments . . . . . . . . . . . . . . . . . . . . . . . . 12 Inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Foreign Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Foreign Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Compensation Claims . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Pending Contracts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 The Oil for Food Program . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Petroleum . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Oil Resources ? Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Oil Production ? History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Current Situation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Iraq?s Oil Industry ? Current Status . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Iraq and OPEC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Potential Iraqi Oil Revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Agriculture . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Agro-climatic setting . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Pre-U.N. Sanctions (1980-89) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 U.N. Sanctions period (1990 to 2003) . . . . . . . . . . . . . . . . . . . . . . . . . 25 Prospects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Banking and Financial Institutions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 Transportation and Infrastructure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Shipping . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Railways . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Air Transportation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Roadways . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30