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Planning expects an increase in the average per capita income of Iraq for 2022
Shafaq News/ The Iraqi Ministry of Planning expected, on Wednesday, an increase in the average per capita income for the year 2022 with the increase in oil prices.
Ministry spokesman Abdul-Zahra Al-Hindawi said in an interview with Shafak News Agency that "the average per capita GDP at current prices for the year 2021 amounted to between 5 to 6 million dinars, or (equivalent to 4,000 dollars)."
He added that "the rise in oil prices and the achievement of large revenues will contribute to raising the average per capita income during the current year," noting that "the per capita income is the result of dividing the country's revenues by the population."
An individual's share or income is an economic indicator that measures the degree of economic development in a country and its social impact, and this is done by dividing the value of the gross domestic product by the population.
Iraq, which is one of the rentier countries, relies almost entirely on oil in its general budget. After going through difficult economic conditions during the year 2020 as a result of the drop in oil prices, prices rose again at the end of 2021 and the beginning of 2022 to exceed $100 per barrel.
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Ministry spokesman Abdul-Zahra Al-Hindawi said in an interview with Shafak News Agency that "the average per capita GDP at current prices for the year 2021 amounted to between 5 to 6 million dinars, or (equivalent to 4,000 dollars)."
He added that "the rise in oil prices and the achievement of large revenues will contribute to raising the average per capita income during the current year," noting that "the per capita income is the result of dividing the country's revenues by the population."
An individual's share or income is an economic indicator that measures the degree of economic development in a country and its social impact, and this is done by dividing the value of the gross domestic product by the population.
Iraq, which is one of the rentier countries, relies almost entirely on oil in its general budget. After going through difficult economic conditions during the year 2020 as a result of the drop in oil prices, prices rose again at the end of 2021 and the beginning of 2022 to exceed $100 per barrel.
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