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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The International Monetary Fund Expects The Iraqi Current Account Balance To Turn Negative

    Rocky
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    Fund - The International Monetary Fund Expects The Iraqi Current Account Balance To Turn Negative Empty The International Monetary Fund Expects The Iraqi Current Account Balance To Turn Negative

    Post by Rocky Thu 25 May 2023, 6:53 am

    The International Monetary Fund Expects The Iraqi Current Account Balance To Turn Negative
    05/25/2023
    1665

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    Earth News / The International Monetary Fund expected, today, Thursday, that the current account balance of Iraq will decrease during the current year, and will turn negative in 2024.
    And the fund stated in its latest schedule for the month of May, that the current account balance for Iraq is expected to decrease during the current year 2023 to 4.4% of GDP, down from 11.6% of GDP for the year 2022.
    He added, "It is expected that the account balance for Iraq will decline to become negative in 2024, to be -2.5% of GDP."
    The fund indicated that “the current account balance for Iraq was negative in 2020, to record -10.9%, to rise in 2021 to 7.8%, and then it increased in 2022 at a rate of 11.6%.”
    He explained that “the highest current account balance for the Arab countries for the year 2022 was the share of Kuwait, which amounted to 28.5% of the gross domestic product, followed by Qatar with 26%, then Saudi Arabia with 13.8%, while the largest negative balance of the current account among the Arab countries was the share of Tunisia.” and Jordan, with -8.5% and -7.4%, respectively.
    A positive current account balance indicates that a country is a net lender to the rest of the world, while a negative current account balance indicates that it is a net borrower of the rest of the world. If an economy runs a current account deficit, it absorbs more than it produces (absorption = domestic consumption + investment + government spending), and this can only happen if some other economy lends its savings to it (in the form of debt or direct investment / portfolio in economy) or if the economy is running low on its foreign assets such as official foreign exchange reserves. On the other hand, if the economy is running a current account surplus, it absorbs less than it produces.
    This means that they are saving, since the economy is open, this saving is invested abroad and thus foreign assets are created.
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