The Evaluation of the 2024 Q2 GDP Growth

 Dear followers of the IOU Ministry,

In the second quarter of 2024, thanks to the IOU Ministry's expertly executed "Can't Pay When Buying, Can't Collect When Selling" policies, the art of borrowing has grown by 2.5%. In the first six months, the projected IOUs entering the ministry's coffers have tripled by 3.8, once again reinforcing public trust in our grace-period management. Annualized borrowing balances surpassed 1.2 trillion dollars in the second quarter, as if it's just a joke.

Of course, we didn’t just say “it’s all about us” in this quarter. We also said, "debts are on us!" While the industrial sector (yes, our indebted industrialists, we haven’t forgotten you) shrank slightly, all other sectors managed to increase their credit limits. Whether it’s a calendar or bridge holiday, as long as payments are postponed, every day is our day!

The contribution of domestic demand to growth decreased slightly to 1.2 points, while the positive contribution of net external demand increased to 1.3 points. Balancing the slowdown at home with external borrowing is one of the IOU Ministry’s signature tricks. After all, they say, "Debt is a brave man's whip!"

The unemployment rate remains steady at 8.8%, meaning whether you’ve found a job or not, no one escapes the IOU Ministry! But here’s the good news: Employment has increased by 1.2 million people compared to the same period last year, so for every debtor, there’s an unemployed person, and for every unemployed person, there’s hope!

We’re receiving early signals that the balancing process will continue in the third quarter as well. With a slight slowdown in domestic demand, we’re entering the maturity phase of the borrowing cycle. In 2024, we foresee a balanced growth composition by "borrowing less internally, and whatever's left, we'll borrow externally!"

Keep your eyes on us! We will soon announce the 2025-2027 Medium-Term Borrowing Plan, where we will remind everyone that “every penny has its own grace period!” With our policies aligned with international norms and arbitrary installments, we’ll renew trust and keep moving forward.

The foundation of sustainable borrowing is solid with the IOU Ministry, don’t forget! By supporting value-added borrowing, new credit card applications, buy-and-sell with deposit systems, and exports, we’ll make a small contribution to the well-being of our citizens.

By the way… We couldn’t pay our phone bill, so if you want to reach us, please write to theiouministry@gmail.com for loans or cooperation offers.

Sincerely,
The IOU Ministry