Iraq’s unfulfilled harvest

One of the (many) economic paradoxes in Iraq today is the existence of considerable poverty in a country that was once, and could still become, among the most prosperous in the region. Practically the only Arab state rich in both oil and water, Iraq’s de-development in the last few decades means that today many of its inhabitants are poor and malnourished. Though pockets of stability exist where life is less harsh (including, for example, Kurdistan) the overall situation in Iraq remains precarious and general economic conditions are tough. The country witnessed a dramatic decline of living standards since the war with Iran (1980-8), which cost Iraq $450 billion (much of it in weapons) and the lives of 800,000 of its citizens. After the first Gulf war in 1991, annual per capita gross domestic product was at a mere $250, on par with the poorest countries in the region. That “recovered”