Joseph Saba, the World Bank director for the Middle East and North Africa region, said recently that the World Bank expects that the commercial situation in Iraq will improve in the near future.
<i>Kul-il Iraq</i> reported that, according to Saba, the basis for this prediction is the continuous increase in oil prices in the world, which is expected to lead to a general recovery of the Iraqi economy during 2005.
Saba added that production levels in Iraq have only recently reached their previous levels from before the war and that if the political and security situation continues to stabilize in the country, the Bank predicts that Iraq can even go through a very considerable economic development.
