GCC Economic Profile and Iraq
Posted: March 25, 2011 by THE xxxxxxxxxxxxxx - Just Hopin in Iraqi Dinar/Politics
Tags: Cooperation Council for the Arab States of the Gulf, economy, exchange rate, GCC, Iraq, kuwait, Oman, Saudi Arabia, United Arab Emirates
0
The following is a cursory glance at the six nations which comprise of the GCC and how it compares to Iraq. The six nations which is made up of Kuwait, Bahrain, Oman, United Arab Emirates, Qatar, and Saudi Arabia indicate exchange rates ranging from about $0.27 USD upward to $3.61 USD and averaging $1.61 USD. The economic indicators primarily reflect conditions as of 2010. http://another site.files.wordpress.com/2011/03/grid-1.jpg
The grid offers some indication of the strengths of the GCC union and how it collectively compares directly to Iraq. Each economic indicator and the GCC country which compared the closest was extracted and then summarized below. The eight indicators provided an overall average exchange rate of $1.98 USD and a median exchange rate of $2.60 USD. By comparison Oman compared closest overall with similarities in Debt to GDP ratio, Inflation rate, and Global Exports.
[cutout] The economic profile is not empirical evidence of a future exchange rate and is subjective to opinion. However it does promote the theory of a future revaluation as Iraq’s GCC neighbors each have an exchange rate of $0.27 USD to $3.61 USD. As demonstrated by the economic profile Iraq fares equal to or better than its Middle East counterparts.