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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 Iraqi Gross Domestic Product (GDP) records economic growth, detailing this in numbers

    Rocky
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    The Iraqi Gross Domestic Product (GDP) records economic growth, detailing this in numbers Empty The Iraqi Gross Domestic Product (GDP) records economic growth, detailing this in numbers

    Post by Rocky Sat 03 Jun 2023, 4:36 am

    [size=35][size=35]The Iraqi Gross Domestic Product (GDP) records economic growth, detailing this in numbers[/size][/size]
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    Economy

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    2023-06-03 | 03:04
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    Alsumaria News - Economy

    Economic expert Manar Al-Obaidi said today, Saturday, June 3, 2023, that the Iraqi gross domestic product (GDP) recorded a growth of 27% at current prices in the past year 2022 compared to 2021.


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    Al-Obeidi stated in a post, which was followed by[url=https://www.alsumaria.tv/Entity/133473/%D8%A7%D9%84%D8%B3%D9%88%D9%85%D8%B1%D9%8A%D8%A9 %D9%86%D9%8A%D9%88%D8%B2/ar/]Alsumaria news[/url], that "the Iraqi gross domestic product recorded a growth of 27% at current prices in 2022 compared to 2021, and it recorded a growth of 7% at constant prices in 2022 compared to 2021, to reach 384 trillion dinars at current prices and 213 at constant prices.”



    He added, “The GDP of the following sectors declined:
    - The general government -4.6%
    - Ownership of housing homes -8.13%
    - Building and construction -29%
    - Other types of mining -30%

    .” He continued, "While the GDP of the sectors
    - crude oil - increased by 59%
    - trade." Wholesale, retail and hotels 12.36%
    - Agriculture 10%
    - Manufacturing industries 2%
    - Electricity and water 7.5%
    - Banking and insurance 5%
    Personal services 4%

    The economist pointed out that "the contribution of crude oil to the GDP amounted to 57%, while the contribution of general government services amounted to 11%. The transportation, communications and storage sector represented 9%. The agricultural sector represented 3%. The The manufacturing sector represents Only 2%, and the banking and insurance sector represents 1.35%,” noting that “other types of mining,” except for crude oil, “represents only 0.05% of the gross domestic product.”

    And Al-Obeidi stated, "The increase in the domestic product comes as a result of the increase in oil prices in 2022, and with the exception of oil, other sectors did not achieve significant growth and did not constitute a great importance in the gross domestic product."

    He also explained that "Gross Domestic Product reports are among the most important reports issued by the state, which give an impression of the overall economic situation in Iraq. Much attention must be paid to this report."

    The expert emphasized, “The distribution of the gross domestic product is still distorted, and the sectors that are capable of creating job opportunities, unfortunately, still do not represent a large percentage of the GDP, such as the industries sector, the agricultural sector, the tourism sector, hotels, and the mining sector,” adding, “The economic theory says that increasing the percentage of contribution of any sector in the GDP by 1%, it will lead to an increase in the demand for jobs in this sector by 2.” %.

    In addition, he indicated that "the second matter notes a decline in some sectors compared to 2021, especially in the housing and construction sector, as well as other mining fields, as well as in the general government's contribution, which means a decline in the general government's ability by creating a domestic product despite the increase in its annual expenditures.

    And he added, "The report needs a detailed analysis, as it is the backbone of every economy[You must be registered and logged in to see this link.]and solutions[You must be registered and logged in to see this link.]The economy lies in the method of changing the ratios in this report, and the subject of the private sector's contribution to the GDP still does not represent more than 37%, meaning that the government sector is the main player in generating the Iraqi GDP.

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