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Learn about Iraq's ranking globally and in the Arab world among the largest countries by GDP 2022-04-10 01:49 Shafaq News/ Iraq ranked 52nd globally and fourth in the Arab world among the largest countries in GDP for the year 2022, according to the American "CEOWORLD" magazine for statistics. The magazine said in a report seen by Shafak News Agency that "the five largest economies in the world according to the nominal GDP measure are the United States, China, Japan, Germany and the United Kingdom, and that these top five countries constitute more than half of the world's economic output by GDP in value Nominal," noting that "the global gross domestic product is $95 trillion as of 2022." And she added, "The nominal gross domestic product of the United States, which came first in the world, amounts to 24.79 trillion dollars in 2022, and China is the second largest economy in terms of nominal GDP, reaching 18.46 trillion dollars, while Japan has the third largest economy in the world with a total GDP. It amounts to $5.38 trillion, the German economy is the fourth largest in the world with a GDP of $4.5 trillion, and the UK economy is the fifth largest in the world with a GDP of $3.44 trillion. And she indicated that "Iraq ranked 52 globally and fourth in the Arab world, as the nominal gross domestic product of Iraq during the year 2022 is about 226 billion, and 620 million dollars," and it is expected that "this output will rise during the year 2023 to 239 billion, 993 million dollars, and to 251 One billion and 504 million dollars in 2024, and it will reach 277 billion and 850 million dollars in 2026. According to the report, "Arably", Saudi Arabia came first and ranked 19th globally with the largest GDP, as it will reach in 2022 about 876 billion and 148 million dollars, followed by Egypt second and 33rd globally with 438 billion and 348 million dollars, followed by the United Arab Emirates third and 35th globally with a 427 billion and 930 million dollars, and then Qatar comes fifth and 57th globally, at 180 billion and 883 million dollars. Gross Domestic Product is the monetary market value of all final goods and services manufactured within a country during a specified period.
IMF: Oil to bring Iraq’s overall GDP growth to 10 percent in 2022 Amr Salem May 19, 2022 IMF: Oil to bring Iraq's overall GDP growth to 10 percent in 2022 - Iraqi News 2 min International Monetary Fund building. Reuters image. Baghdad (IraqiNews.com) – An International Monetary Fund (IMF) mission, led by Tokhir Mirzoev, visited to Amman, Jordan, between May 14 and 18, to discuss with the Iraqi authorities recent economic developments, the impact of global events on the economic outlook, and the country’s policy priorities, according to the IMF spokesperson, Wafa Amr. “The economic recovery is well underway. In 2021, buoyed by the resumption of activity, a more accommodative fiscal stance, and stimulus measures by the central bank, real non-oil GDP rebounded by an estimated 20 percent and is poised to expand by around 5 percent this year,” according to a press statement issued by Mirzoev at the conclusion of the visit. “Oil output is projected to reach its pre-pandemic level and bring overall real GDP growth to 10 percent in 2022. The war in Ukraine is affecting Iraq mainly through its global impact on commodity prices. In 2022, soaring oil revenues will more than offset the increased food and energy import bills,” Mirzoev explained in his statement. “As a result, the fiscal and current account balances are projected to post double-digit surpluses in percent of GDP. Nonetheless, headline inflation is expected to climb to 6.9 percent, up from 6 percent last year, driven in part by higher food prices, which are adversely affecting the poorest segments of the population,” Mirzoev added.