Iraqi Dinar Revaluation 2013

The global environment has become more challenging and risky, with much hanging on developments in the eurozone. With a recession now on the cards in Europe, global growth will slow to 3.2 percent next year, with the US posting 1.5 percent growth and emerging markets 5.5 percent.

Oil markets are likely to weaken, although sustained growth in emerging markets oil demand will provide support. GCC oil production will need to be scaled back to accommodate the return of Libyan oil, and further OPEC coordinated cuts may be needed to keep prices around $ 100/b.

GCC real GDP growth is expected to surge to 7 percent in 2011 on the back of increased oil production and soaring oil revenues which are being spent by governments on boosting salaries and employment as well as supporting development agendas. While sustained fiscal stimulus will continue to bolster non-oil sectors, a weaker global environment and reduced contribution from oil sectors will see growth dip to 3.7 percent in 2012.

http://www.gulfinthemedia.com/index.php?m=economics&id=587420&lim=&lang=en&tblpost=2012_01

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Above all, we must realize that no arsenal, or no weapon in the arsenals of the world, is so formidable as the will and moral courage of free men and women. It is a weapon our adversaries in today's world do not have.
Ronald Reagan

Rob AKA Grumpy



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