World Bank: Iraqi Reconstruction will be Delayed by Lack of Security
The World Bank and the UN say that the rebuilding of Iraq may take longer than the 4 years they originally estimated, because of the deterioration in the security situation. They had put the cost of rebuilding at $36 bn., on top of the $20 bn. the Bush administration wishes to spend for the purpose. The planning for the rebuilding will also be time-consuming, the officials suggested.
The Iraqi economy contracted by 22% in 2003, with per capita income averaging $525 per annum. The World Bank believes the Iraqi economy could grow 30% next year, attaining a per capita income of about $670.