#1 Finance of Iraq by TimothyHughes 21.02.2023 19:41

The monthly minimum wage in Iraq is USD 214. Iraq has a public debt equivalent to 23.3% of the country's gross domestic product (GDP), estimated in 2012. In terms of consumer prices, Iraq's inflation rate is 2%. The currency of Iraq is the Iraqi Dinar. The plural form of the word Iraqi dinar is dinar. The symbol used for this currency is ع.د and is abbreviated as IQD. The Iraqi dinar is divided into fils; There are 1000 in a dinar. Every year, consumers spend around $14,003 million. The ratio of consumer spending to GDP in Iraq is 0.01% and the ratio of consumer spending to world consumer market is 4.04%. Corporate tax in Iraq is 15%. Personal income tax ranges from 3% to 15% depending on your specific situation and income level. VAT in Iraq is 10%. In 2013, Iraq received $1,300.7 million in foreign aid. In 2014, foreign aid amounted to $1908.

Gross domestic product
Total Gross Domestic Product (GDP) valued at Purchasing Power Parity (PPP) in Iraq is US$526,090 billion. Gross Domestic Product (GDP) per capita calculated as Purchasing Power Parity (PPP) in Iraq was last seen at $13,372,987. PPP in Iraq is considered very good compared to other countries. A very good PPP shows that citizens in this country find it easy to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with very good PPP are safe investment locations. The total gross domestic product (GDP) in Iraq is 195.517 billion. Based on this statistic, Iraq is considered to be medium strong. Middle economy countries support an average number of industries and investment opportunities. It shouldn't be too difficult to find worthwhile investment opportunities in mid-sized economies. Gross domestic product (GDP) per capita in Iraq was last seen at $4,969,960. The average citizen in Iraq is very wealthy. Countries with very high per capita wealth have a longer life expectancy and a very high standard of living. Highly skilled labor can be found in many industries and labor is very expensive in these countries. Very wealthy countries offer safe investment opportunities as they are often backed by a diverse and thriving financial sector. The annual growth rate of GDP in Iraq averaged -0.5% in 2014. According to this percentage, Iraq is currently experiencing a slight decline. Countries with a slight decline may see a slight decline in personal consumption, employment rate, or personal income. A slight drop in GDP may indicate a risky location for investment; However, some strong economies occasionally experience a slight decline and are still safe investment locations.

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