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International Comparison Program - ICP

The ICP Regional Office for Western Asia (WA) region is proud to share with you the latest news about the progress of 2011 round of the International Comparison Program (ICP) and its implementation in Western Asia through different means of communication, one of which is the ICP Web page. Our office has also developed a monthly ICP Newsletter in addition to our Facebook page.

We are also proud to be the first to provide an online Real Currency Converter based on Purchasing Power Parities instead of market exchange rates, enabling users to get real estimates of the buying power of their national currencies, based on the results of the 2005 ICP round.

We are aware of the increasing importance of the buying power of currencies and hence the Purchasing Power Parity (PPP) to everyone in today’s modern world, and not only to economists and statisticians. The ICP is a worldwide statistical initiative aiming at estimating the PPPs of the world's economies as one of its objectives. Therefore, our purpose is to address everyone and communicate the latest program activities, news, results and what to be expected at the end of the 2011 round of the International Comparison Programme. Results of the ICP will help not only policy makers, economists, researchers and students but the public in general, with all diversified backgrounds and professions, in having a better judgment of their social and economic well being in their resident country in comparison with other countries, be it at the regional or global level.

The PPP, which constitutes an important component of the ICP output, will allow for a more realistic comparison of the power of currencies corrected for price level differences and other distortions, which will, in turn, allow for a spatial real comparison of economies and macroeconomic indicators and cost of living in different countries.

Our official Facebook page has been launched as an open forum for discussion, welcoming your questions, queries, suggestions and topics that might provide relevant interest. You are also encouraged to give us a quick page ‘Like’ if you would like to support our initiative and the efforts undertaken in this regard.

Our thanks are extended to all those who contributed, are contributing, and will be contributing to the success of the program's implementation in our region.

Please feel free to contact us for any additional inquiries, suggestions or contributions you would like to make.