Between 2007 and 2012, Iraq's GDP grew at a cumulative rate of over 40 percent, and averaged an annual rate of 7 percent between 2008 and 2012. Yet, per capita consumption, the basis for measuring poverty, grew by only 9 percent in cumulative terms, or at 1.75 percent per year. Economic growth translated into very modest rates of poverty reduction, and in 2012, a fifth of the Iraqi population remains below the poverty line. Moreover, welfare improvements...
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