"ANALYSIS OF IRAQ NEWS: “BECAUSE OF A NEW EXCHANGE RATE!!!” BY FRANK26, 5 FEB

 “BECAUSE OF A NEW EXCHANGE RATE!!!”………..F26

Planning: The current year will witness an improvement in average per capita income

1/30/2024

Baghdad: The mainstay of the emirate

The Ministry of Planning confirmed that the average per capita income last year amounted to 7-8 million dinars, and that there is a discrepancy in income rates for many segments of society, noting that oil prices contributed to the rise in the average per capita income, which is calculated after dividing the gross product.

On the population, while it is expected that the average per capita income for the current year 2024 will witness a noticeable improvement, especially after the government’s great direction in supporting the social protection program, the ration card, and providing services to citizens.

In a way that confirms an improvement in the national economy, the Ministry of Planning stated that the actions of the government and the Central Bank of Iraq contributed to the decline and stability of inflation indicators and a decline in their rates during the last two years, as the inflation rate was (6 percent) in the year 2021, and decreased in the year 2022 to ( 5 percent) and then in the year 2023 the inflation rate was 4.4, meaning less than 4 and a half percent.”

The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said that the average per capita income is extracted and calculated by dividing the volume of revenues or resources that the country obtains by the number of population. Thus, we are talking about a rate or average annual per capita income ranging between 7 to 8 million dinars per capita during the past year 2023, pointing out that this improvement in the level of per capita income came as a result of improved oil sales and increased prices, and thus the country achieved good financial revenues. Al-Hindawi pointed out that The per capita income, which amounts to 7 to 8 million dinars, does not include the entire population, as the individual does not receive the same income or equally. Rather, there is certainly a discrepancy between one group and another and between one segment and another, according to many factors, and that there are segments whose average annual income may be 3 million or five million dinars.

There are segments whose annual income is 10 million dinars, or perhaps their annual income is 20 million dinars annually, indicating that the discrepancy in these numbers comes as a result of the nature of the work and the academic achievement certificate of the individual, who may also work in more than one job, as a result of which his annual income increases or decreases according to these factors, indicating Until the improvement in income rates also depends on the level of services that the individual receives, including water, electricity, sanitation, transportation methods, and other requirements.   LINK