Shafaq News/ Iraq has ranked fifth among Arab nations and 52nd globally as the largest economy in the world for the year 2024, According to CEOWORLD.
Despite rising concerns over inflation, the United States maintained its position as the world’s largest economy, with a Gross Domestic Product (GDP) of $28.78 trillion.
China followed with a GDP of $18.54 trillion, while Germany solidified its position as Europe’s economic leader with a GDP of $4.59 trillion, leveraging its manufacturing expertise and robust exports amid additional challenges related to energy supply issues stemming from the Russia-Ukraine conflict.
CEOWORLD highlighted Japan in fourth place with a GDP of $4.11 trillion, while India ranked fifth, showcasing one of the fastest-growing economies with a GDP of $3.94 trillion.
In terms of global rankings, Iraq secured the 52nd spot with a GDP of $265.894 million for the current year, projected to increase to $278.811 million in 2025, $292.147 million in 2026, $307.465 million in 2027, $325.197 million in 2028, and finally reaching $345.074 million by 2029.
CEOWORLD further noted that Iraq ranks fifth among Arab nations, following Saudi Arabia, the United Arab Emirates, Egypt, and Algeria in economic size.
💢 Helpful At-A-Glance L👀K at where we're at - with VE, Liberty Admin Extraordinaire & Gin Gin
💢VE: How are you feeling about Thursday (11th) for Camping Notices? 😎
·Iraq goes into WTO on the 18th.
·Frank26's contact Eddie is saying Shaleh says 14th-18th for new IQD currency.
·Another Iraqi holiday is declared on Sunday (14th) to begin their New Year. (✅ Correction - began 7.6.24 - Islamic NY on 7.7.24).
·MarkZ thinks we will go before the new rate is released to the general public. Just like Kuwait.
💢 Ginger: Yes, based on these data points, I'm liking this coming week - and into the next - very much - and especially that much the more IF I see the other major stuff pop off that we're looking for (other mile markers and certain non negotiables).
I'm extremely hopeful and remaining grounded and cautiously optimistic 😁.
Judy Note: What we think we know as of Mon. 8 July 2024:
There will be an Internet Blackout.
The White Hat Military is in control of the redemption process, which has released funds across the World for the Global Currency Reset.
All banks have signed Non Disclosure Agreements.
The GCR funds come directly from the US Treasury Department of Defense Operations – that go out to Treasury Departments in other countries.
Japan has revalued their currency.
Bond Holders have begun to be paid in Brazil.
Notifications have gone out to Tier 4a, a small group of Tier4b and some Bond Holders.
Sat. 6 July 2024 Wolverine. “It has started. It is a process hopefully completed by the 20th. I’m hoping to get the Green Light in a few days.”
Sat. 6 July 2024 MarkZ: “More and more sources are telling me that serious money movement and us moving towards the banks somewhere around the weekend of Fri. – Mon. 12th-15th. No one knows the exact timing but they are certainly preparing lots of bank contacts for that time period, so I think it may speak well to where we may be on that.”
Fri. 5 July 2024 Texas Snake: “Well folks it’s not like we haven’t heard this before but, I just got off a call from Hong Kong, London, NYC, Reno, and me. They are indicating that certain bond holder groups are having funds disbursed to paymasters over this weekend and that we as currency holders should remain vigilante for notifications this coming week. An FYI only as banker has not suggested same.
'IRAQ WILL BE FULL MEMBERS OF THE WTO ON JULY 18TH" BY CLARE
Clare Question: "Iraq is supposed to join the WTO this 18th of July, is that correct?" IT WAS REPORTED ON IRAQI TV...THAT IRAQ WILL BE FULL MEMBERS OF THE WTO JULY 18TH. -- Clare Article: "Dinar Explainer 1: Why Iraq has Two Exchange Rates" Quote: "On a recent webinar organized by the Iraq Britain Business Council (IBBC), Professor Frank Gunter of Lehigh University explained the causes and effects of Iraq's dual exchange rate..." 1. Ex..for read more:
PROJECT OF DELETE ZEROS IS PLANNED FOR THE BEGINNING OF THE 3RD STAGE OF THE ECONOMIC PLAN" FROM CBI CONTACT BY MNT GOAT
My contact told me that the Project to Delete the Zeros is planned for the beginning of the 3rd stage of the economic plan. What does this mean. In fact, I did not fully understand it either until this article was published. We learned through this article that that 3rd stage begins mid-year 2024. Is Iraq ever completely on time? We must give them a break since they are working against all odds in getting these reforms done. As we can also read in the news there is pressure against the economic reforms from Iranian politicians and seeded officials within the parties. It is an uphill battle for Iraq to achieve progress. So, the CBI may not meet their..for read more:
Economy |Today Baghdad Today – Baghdad Mazhar Muhammad Salih, the Prime Minister's economic advisor, confirmed today, Sunday (July 7, 2024), that the fluctuations witnessed by the secondary or parallel dollar exchange market during the past days are not commensurate with the strength of Iraq's international or foreign reserves.
Saleh said in an interview with Baghdad Today, "These are the actions undertaken by speculators looking for emergency profitable opportunities here and there," indicating that "the fixed exchange rate system in Iraq is based on international reserves, which is the highest in the history of Iraq, and its monetary policy, as foreign currency covers a percentage of more than 100% of the total currency currently issued."
He added that "the dollar exchange rate compared to the dinar in the parallel market does not constitute any relative importance in influencing the stability of the general price level, as this general price level has become stable in its components and trends due to the influence of the official exchange rate factor currently dominating the financing of foreign trade (imports), amounting to 1320 dinars per dollar," explaining that "this represents a stable trend for the exchange rate and the stable external value of the dinar revolves around it, which is embodied by the state of stability in the relative prices of goods and services to a large extent, as annual inflation in our country does not exceed 3%.
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He pointed out that "in light of the strength of the foreign reserves supporting the Iraqi dinar, the value of which as liquid foreign assets exceeds 100 billion dollars, the official exchange market, as a general trend, will remain dominant in containing any colored noise or ambiguous information that affects the parallel exchange market in short periods due to urgent international or regional political events here and there or in adapting some instructions regulating the monetary market."
He explained that "after the decline of the dollarization phenomenon in domestic transactions, especially in contracts, obligations and payments within the country since last year and its legal prohibition, the parallel exchange market has become such that its general effects today only form a narrow economic scope of prohibited transactions practiced by informal markets and at a rate of 10% of the total supply and demand transactions for the currency."
Saleh stressed that "the stability of the exchange rate of the dinar to the dollar that the country is witnessing, even in the secondary markets, is a real and solid stability. Rather, it is derived from the strength of the impact of the price and quantity factors of the monetary and financial policies and their integration in imposing overall price stability in the country and containing inflationary expectations that were caused by the forces of the parallel exchange market during the past years," stressing that "the irregular secondary market, due to the freedom of external transfer, is under the influence of the official exchange market rate, whose operations are constantly expanding in favor of dealing with the fixed official exchange rate."
The price of the dollar against the Iraqi dinar has witnessed a noticeable increase in the past few days, as the exchange rate in the local markets reached 150,000 dinars for every 100 dollars. LINK
