working paper iraq united nations world bank joint needs assessment state owned enterprises task manager christian schmidt other participating agencies ifc october 2003 1 overview i overall description of the situation like many authoritative and centrally planned economies s economy was dominated by public were present in key sectors operated under high protection levels input output prices controlled heavily subsidized non arab foreign direct investment not allowed with sanctions past decade became essentially a closed while most trade through oil for food off program pre war period some took place outside parallel developed family saddam hussein managed significant segments black market which flourished following had negative impact on governance poor this environment soes deteriorated seriously de capitalization assets lack access to modern technology no incentives raise productivity ii transition greater openness international
