A Source For Al-Iqtisad News: The Internal Debt Amounts To About 70 Trillion Dinars
Money and business Economy News – Baghdad An informed source revealed that the size of the Ministry of Finance’s internal debt reached about 70 trillion dinars.
The source told Al-Iqtisad News that the size of the internal debt in 2019 was more than 38.3 trillion dinars, while it increased after the approval of the first and second deficit financing laws in the year 2020, which allowed the government to borrow 30 trillion dinars through treasury bonds and direct loans from banks to finance salaries. State employees after the collapse of oil prices during the Corona pandemic
He added that the internal debt currently amounts to about 70 trillion dinars, and that most of the borrowing is by the Central Bank, the Rafidain and Rasheed banks, and the Retirement Authority.
He continued that treasury transfers discounted by the Central Bank amounted to 42.6 trillion dinars, while treasury transfers discounted by government banks amounted to 5.1 trillion dinars, and other financial institutions such as the Retirement Authority amounted to 18.2 trillion dinars.
He pointed out that the bonds recently offered by the Ministry of Finance, namely reconstruction and construction, amounted to 2.58 trillion dinars after being discounted by citizens and financial institutions.
The source confirmed that the rise in internal debt is not a good indicator, especially since the government has liquidity and must work to restructure the internal debt.
Views 78 01/11/2024 -https://economy-news.net/content.php?id=39327
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