Iraq ranked 51st globally and fourth in the Arab world in the list of the world’s largest economies for 2025, according to a report issued by the American magazine “CEOWORLD”.
The report indicated that the United States will lead the world economies in 2025 with a total domestic product of $30.33 trillion, followed by China with $19.53 trillion, then Germany with $4.92 trillion, Japan with $4.39 trillion, and India with $4.27 trillion.
The report explained that these five countries will lead the global economy thanks to their great influence on international trade and wealth, while the list of the top ten includes other countries such as the United Kingdom, France, Italy, Canada and Brazil, reflecting a balance between developed and emerging economies.
Iraq is in fourth place in the Arab world
At the Arab level, Iraq came fourth with a gross domestic product of $ 270.87 billion, after:
1. Saudi Arabia
2. Emirates
3. Egypt
It was followed by Algeria, Qatar, Morocco, and Kuwait.
Countries at the bottom of the global list
At the end of the ranking, Tuvalu came in last place (196) with a gross domestic product of $79 million, ahead of Nauru with $179 million.
The report reflects an optimistic view of the Iraqi economy in the near future, while noting its great potential to play a pivotal role in the region.
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Gooood morning Mark, mods and fellow Patriots!
Member: Happy Thanksgiving eve!!! 4 day weekend. Nice for a RV?
Member: Notifications or 800#’s today???
MZ: I’m not expecting them today….but very soon. None of my sources say it’s happening today….but some folks think the next 3 days are highly possible.
Member: Bruce said something about it going today
MZ: We do have some key people that are no longer in place until Friday. A number of folks on the bond side from the US that had been in Zurich, Hong Kong or Asia are home for the holidays. They should fly back to their places on Friday so I am not expecting a plethora of news before Friday. If need be- a number of people in the Reno area are close and can get back quickly.
Member: Could you please explain the 800 #s for the new people?
Member: Redeeming banks/redemption centers will send a notification to the dinar sites and some gurus to publish …Call the 800 number posted…..give them your zip code and they set up an exchange appointment for you in your area……Thats what I was told.
Member: Do you have a guesstimate of rates for us newbies?
MZ: On the dong we have seen anything from .39 cents to $3.90 recently….i am hearing now that it could be closer to the $3.50-$3.90 range. I am hearing low $4’s on the dinar but they have seen $6-$8…and some of my sources think the law rate is off. Indonesia we are still hearing $1.47.I do not have any idea what the Pengo or bolivar will be. Still hearing on the Zim between $30 million to $50 million per 100T note
Member: The talk about these supposed rates doesn't mean a Damn thing if they continue to not flip the switch
Member: Got a lot of intel in my inbox forwarded to me last night wow!!! I think Things are getting very exciting!!!!
Member: Sudani’s out of his country so no RV until he returns. IMO
MZ: “ The upcoming session will witness a vote on all controversial laws” one f the most controversial laws is the HCL and the profit sharing agreement . It is a key peace for a revaluation.
MZ: “ For the first time since 2003. Non-Oil revenues achieve significant growth in 2024” This gives Iraq stability and helps allow them to raise the value of their currency.
Member: Amazon warehouse workers are going on strike this Black Friday-possibly
Member: Mark...think it would be epic for EAS and disclosure during Thanksgiving dinner to vindicate all the tin foil hat peeps
MZ: There are a lot of people staying home this Thanksgiving. One rumor I did hear on fines and penalties…that there was a good chance they could go this weekend because of the number of people that will be home and in place. It makes sense.
Member: Why is there so much miss information out there? Why can’t people tell the truth?
MZ: A lot of the misinformation is purposeful….so people don’t know the timing
Member: Safe travels to those heading out this Thanksgiving and remember we all have something to be thankful for.
Member: We were CHOSEN to be here at this time...Have faith...Our day is coming...We will create our new beautiful earth together...Remember Unconditional Love & Peace
Member: Hope everyone has a great day today!
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
BP delegation to finalize Kirkuk oil field deal to boost production
Shafaq News/ A delegation from British Petroleum (BP) has arrived in Kirkuk to hold intensive discussions with the North Oil Company, aiming to finalize an agreement to develop the region’s oil fields, according to a senior company source.
This follows the memorandum of understanding signed on August 1 under the supervision of Prime Minister Mohammed Shia Al-Sudani. The agreement, involving Iraq’s Ministry of Oil and BP, focuses on rehabilitating and expanding production in key Kirkuk oil fields, including the Baba and Avanah domes and three adjacent fields – Bai Hassan, Jambur, and Khabbaz – that are operated by the Government of Iraq’s North Oil Company (NOC), with the possibility of adding more fields in the future.
The source revealed that “BP presented its initial plan during meetings with North Oil Company officials, outlining surveys and preparations for oil wells. A meeting with Kirkuk Governor Rebwar Taha is also scheduled to discuss the progress.”
Additionally, the North Oil Company has already initiated a work plan to boost production, focusing on connecting wells in Bai Hassan, upgrading the pipeline network in the Avanah field, repairing damaged pipelines at Shoraw station, and implementing a drilling and reclamation plan.
Economic expert Abbas Al-Ali explained that the partnership aims to increase oil production in Kirkuk’s fields, which currently produce approximately 325,000 barrels per day (bpd). The target is to more than double output to 650,000 bpd.
“The agreement also includes a three-dimensional seismic study of the reservoirs to maximize extraction efficiency,” Al-Ali said.
Estimates indicate that the Kirkuk field contains around nine billion barrels of recoverable oil, underscoring its strategic importance for Iraq’s energy sector.
Updates on Iraq’s federal court decisions regarding salaries, budget discussions, and Central Bank initiatives highlight economic reforms and oil export challenges.
Highlights
⚖️ Federal Court decisions impact salaries of Kurdistan region employees.
💰 2023-2025 budget discussions are underway, focusing on investment and operational spending.
🛢️ Oil exports from Kurdistan await parliamentary approval, with significant financial implications.
🏦 Central Bank workshops on financial risk management signal preparations for economic reforms.
📈 The introduction of the RL USD stablecoin aims to enhance international transactions and economic stability.
🔄 Ongoing discussions on merging state and private banks to improve financial viability.
🌍 Iraq’s digital transformation reflects its ambition to integrate into the global economy.
Key Insights
⚖️ Impact of Federal Court on Salaries: The Federal Court’s rulings are crucial for ensuring timely salary disbursements to Kurdistan region employees, reflecting a broader commitment to uphold workers’ rights.
💰 Budgeting for Growth: The urgency in finalizing the 2025 budget amidst discussions on 2023-2024 highlights the need for strategic fiscal planning to support long-term economic growth.
🛢️ Oil Export Dynamics: The delay in Kurdish oil exports not only affects regional revenues but also poses risks to Iraq’s overall financial health, emphasizing the need for legislative action.
🏦 Central Bank’s Role in Risk Management: The Central Bank’s focus on risk management indicates a proactive approach to safeguard against financial instability and enhance banking sector resilience.
📈 Emergence of RL USD: The introduction of the RL USD stablecoin signifies Iraq’s shift towards digital finance, potentially providing stability and efficiency in international transactions.
🔄 Banking Sector Restructuring: The merging of state and private banks aims to create a more robust financial system, crucial for attracting investments and fostering economic diversification.
🌍 Global Integration Efforts: Iraq’s ongoing digital transformation and focus on international cooperation underscore its intent to become a competitive player in the global economy, which is vital for sustainable development.
Economist: Non-Oil Revenues To Achieve Significant Growth In 2024
Wednesday 27 November 2024 | Economic Number of readings: 141 Baghdad / NINA / Economic expert Manar Al-Obaidi, a member of the Political Economic Center, announced that the non-oil revenues of the Iraqi state grew during the first nine months of 2024 by 198% to reach the 12.3% barrier of its contribution to the total revenues of the Iraqi state.
Al-Obaidi said in a statement that the total non-oil revenues of the Iraqi state during this period amounted to 14 trillion Iraqi dinars, up from the same period in 2023, which was about 4.7 trillion dinars.
Despite the decrease in the value of revenues resulting from taxes on income and wealth by 17%, the increase in commodity taxes by 275% and the increase in the budget's share of public sector profits by 243% contributed to this significant increase.
He explained that for the first time since 2003, non-oil revenues constituted 12% of total revenues and the contribution of oil revenues decreased to reach 88% of total revenues.
He added that the total revenues until September 2024 amounted to 114 trillion Iraqi dinars, an increase of 19% compared to the same period in 2023, which amounted to 95.85 trillion Iraqi dinars.
The improvement in non-oil revenues is due to the reforms made in the tax and customs file, in addition to encouraging profitable public companies to increase their contribution to government revenues. It is expected that non-oil revenues in 2024 will reach the barrier of 18 trillion Iraqi dinars. Despite the increase in this number,
it is still far from the planned number in the budget, which amounts to about 28 trillion Iraqi dinars. However, this improvement in these revenues reflects the success of the reforms made in the field of collection and work to increase payment through electronic outlets. / End 9 https://ninanews.com/Website/News/Details?key=1171400