How much is Iraq’s debt?
Mazhar Mohammad Saleh, the financial advisor of Mohammad Shia al-Sudani, the Prime Minister of this country, pointed out the total debts of this country this Sunday afternoon.
He added: The domestic public debt of his country is currently estimated at nearly 50 billion dollars, which is completely owned by the state banking system, which means that the debt is considered within the state system and not outside of it.
The financial adviser of the Iraqi Prime Minister, while announcing that the effective foreign debt of Iraq that must be repaid from this year is not more than 20 billion dollars, so that the total domestic and foreign debts are estimated to be nearly 70 billion dollars, and emphasized that this amount is only a percentage It constitutes 30 to 35 percent of the country’s gross domestic product, and it is a very reliable percentage compared to the international standard rate of 60 percent.
He stated that the mechanism for the repayment of Iraq’s internal and external debts is carried out through the annual allocation approved in the federal budget, and further added: This is despite the fact that the efficiency of Iraq’s foreign exchange reserves is also very high and is up to five times its foreign debts. It covers that the standard rate is high and reassuring and shows the strength of Iraq’s financial situation.
