War with Iraq may Cost 100-200 Billion Dollars: US Official

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Last updated at: (Beijing Time) Tuesday, September 17, 2002

War with Iraq may Cost 100-200 Billion Dollars: US Official

A senior US official has said that the cost of a new war with Iraq may fall between 100 and 200 billion US dollars but would have little impact on the US economy.

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A senior US official has said that the cost of a new war with Iraq may fall between 100 and 200 billion US dollars but would have little impact on the US economy.

The estimation was made by Lawrence Lindsey, President George W.Bush's assistant for economic policy, in an interview with The Wall Street Journal published Monday.

Lindsey said that the possible cost accounts for 1 to 2 percent of gross domestic product (GDP) of the US.

Although the figure is much higher than the 50 billions projected by the Pentagon, Lindsey insisted that it would have little impact on interest rates or the federal debt of about 3.6 trillion dollars.

But experts here said Monday that they were so sure that the flagging US economy could escape the impact of a fresh war with Iraq.

The 1991 Gulf War cost about 61.1 billion dollars, but 53.7 billion dollars were paid by US allies such as Saudi Arabia, Kuwait and Japan.

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