Expatriated Iraqis are contributing to the Iraqi economy to the tune of over $5 million dollars a day being deposited into local private banks.
In addition, the unemployment rate has fallen from between to 50%–70% to closer to 25% since the overthrow of Saddam.
New government jobs, jobs from the private sector’s and reconstruction have given thousands of previously chronically unemployed or underemployed Iraqis jobs.
Notable Since the Overthrow:
Building projects are beginning with reconstruction of government buildings.
One million cars imported a since May 1.
Baghdad seems to be regaining some of its formal glory. Cell phones are becoming more prevalent and imports of high end commodities are increasing.
The gross domestic product, in real growth, could be as high as 25% with the combination of reconstruction spending, the oil industry increasing exports and increased international trade.
