Iraq's war-shattered economy shows boom signs (China)

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Iraq's war-shattered economy shows boom signs

"These are the best times I have ever had since I began my business as second-hand car dealer three years ago," said Adnan Abdul Majeed of Karada, west of Baghdad.

"Last month, I sold 65 cars and I see the demand for new cars is on the rise almost daily since the ousting of the old (Saddam Hussein's) regime," Majeed added.

According to official statistics, more than 250,000 new cars have entered Iraq in the past 10 months since the US-led coalition forces swept Saddam from power last April.

Naji Mehdi who deals with electronics believes that the Iraqi economy is showing strong signs of activity after decades of state- controlled policies over trade and monetary matters.

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Iraq's war-shattered economy shows boom signs