CandyKisses::  For the first time in 9 years. Russia returns to the list of the ten largest economies in the world

Data from the World Bank and the National Statistical Service showed that for the first time since 2014, Russia returned to the list of the ten largest economies in the world.

At the end of 2022, Russia produced goods and services worth $2.3 trillion, allowing it to occupy eighth place on this list.

According to the data, the United States remained the world’s largest economy last year, with a nominal GDP of $25.46 trillion. In second place came China (17.94 trillion) and traditionally Japan closed the top three (4.17 trillion). Germany remained fourth (4.07 trillion), India ranked fifth (3.4 trillion), Britain retained sixth place (3.07 trillion) and France remained seventh (2.78 trillion). Canada ranked ninth ($2.14 trillion), while Italy ($2.01 trillion) fell from eighth to tenth.

South Korea slipped from the top ten, becoming 13th.Russia last entered the top ten in 2014, at which time it occupied ninth place with a GDP of $2.05 trillion. In 2021, Russia ranked 11th.

The ranking of countries by GDP was calculated on the basis of the most recent annual or quarterly data provided by national statistical offices in national currencies and, where necessary, recalculated in dollars at the average exchange rate for the corresponding period.

CandyKisses:  Within A Month. Iraq Achieves 17 Trillion Dinars In Financial Revenues

The Ministry of Finance issued the accounts of the Iraqi state for the month of February for the fiscal year 2023, which indicated that the volume of financial revenues amounted to more than 17 trillion dinars, while indicating that the contribution of oil to the federal budget amounted to 96%.

Earth News Agency followed up on the data and tables issued by the Ministry of Finance in May for the accounts of February 2023, which showed that oil is still the main resource for Iraq’s general budget, reaching 96%, indicating that the rentier economy is the basis in Iraq’s general budget.

Through the financial tables, it showed that the total revenues until January amounted to 17 trillion, 668 billion and 982 million, 693 thousand, and 586 dinars, after excluding transfer revenues of 2 trillion, 233 billion and 629 million, and 735 thousand dinars, indicating that the total expenditures with advances amounted to 15 trillion, 923 billion, 515 million, and 419 thousand dinars.

According to the finance table, oil revenues amounted to 19 trillion, 207 billion, 539 million, 763 thousand and 376 dinars, which constitute 96% of the general budget, while non-oil revenues amounted to 695 billion, 72 million and 665 thousand dinars.


Tishwash:  Al-Barzanji: There is high harmony within the state administration and the budget will be launched within days

Haider Al-Barzanji, who is close to the coordination framework, confirmed the state of “high harmony” within the State Administration Coalition.

Al-Barzanji told the Euphrates News Agency: “The meetings of the State Administration Coalition are continuing, and there is high harmony within it. As for objecting to some laws, it is in formalities and methods.”
He pointed out that “the talk continues about issues that concern and pertain to the citizen through completing the important laws in the life of the citizen, the most prominent of which are the general amnesty law and the financial budget law.”

Al-Barzanji expected “the approval of the budget law in the coming days, and its completion is related to the Parliamentary Finance Committee, which is the most important at the present time.”

It is noteworthy that the State Administration Coalition is a parliamentary coalition, which was formed on September 25, 2022, and consisted of the Coordination Framework, the Kurdistan Democratic Party, the Sovereignty Coalition, the Patriotic Union of Kurdistan, the Azm Coalition, and Babylon.

The administration of the state represents a parliamentary majority, as it includes all the main parliamentary blocs without opposition except from a few independent deputies. The government of the state administration coalition was formed on October 27, 2022, headed by Muhammad Shiaa al-Sudani.

Al-Sudani said that his government is working to achieve stability by preserving the state administration coalition agreement. link


Tishwash:  Hammurabi Bank.. Financial Inclusion Week, the way to a major banking renaissance

Hammurabi Commercial Bank participated in the Financial Inclusion Week organized by the Association of Private Banks in cooperation with the Central Bank of Iraq and carried the slogan “The environment is your land to instill in it what you want to see tomorrow” to work on spreading its services among Iraqi society, as this event represents an important step on Communicating and benefiting from regional and global experiences, and starting the stage of starting from where the world ended.

These activities coincide with the celebration of the Arab Day for Financial Inclusion in all Arab countries, and include Iraqi and foreign banks and financial companies providing banking services and displaying all products in several public places, commercial shopping centers, universities, and others.

n official source in the Hammurabi Commercial Bank considers this step a task and advances the Iraqi financial sector to the extent that financial inclusion means, in essence, the delivery of financial services to the weakest income segments in society.

He added, “The banking mechanisms and advantages resulting from the use of electronic payment methods associated with banking work will help expand the phenomenon of financial inclusion so that it becomes double what it is today, and that the number of adults who engage in banking operations will exceed the declared percentages of the adult population, in addition to expanding credit operations and granting The loans will also raise the public’s interaction with the banking system.”

The source pointed out that the activities of the Financial Inclusion Week were launched under the supervision of the Central Bank and the Association of Private Banks, with the participation of a number of banks and electronic payment and financing companies by organizing daily activities for the public, to educate them on the importance of opening bank accounts, electronic payment, savings and others.

And the activities of the week were held at Al-Nahrain University, in order to inform the students of the importance of using personal and corporate bank accounts, to manage their projects. During the symposium, the problems facing some merchants were identified and mechanisms were put in place to solve these obstacles and communication between the bank and the merchant for the purpose of opening accounts for them and dealing through remittances within the electronic platform.

The source indicated that, based on the directives of the Central Bank, the activities of the Financial Inclusion Week were organized in Dream City Mall with the participation of a number of banks, with the aim of increasing the banking culture among citizens, and educating them on the importance of using modern systems and methods, pointing to the participation of the Iraqi Company for Financing Small and Medium Enterprises Ltd. in The fourth day of financial inclusion activities on the grounds of Al-Alwiya Club.. in the presence of the Director of the Awareness Department at the Central Bank of Iraq and his representatives.

The source appreciated the efforts of the Central Bank of Iraq aimed at developing the financial and banking sector by developing the infrastructure that enables financial and banking institutions to improve services and facilitate access to them by all segments of society. Services and the participation of banks in a practical way to contribute to banking education for services, especially for women, as well as for the segment of students, whether schools or universities, who are considered effective tools for spreading culture and fighting banking illiteracy.  link

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