Dagher: I don't understand why we borrow when oil exceeds $70
Today, economic expert Dr. Mahmoud Dagher criticized the economic policies that push Iraq to borrow despite oil prices exceeding $70 per barrel.
Dagher explained that the external debt exceeded the figures announced according to the World Debt Report, while the internal debt amounted to more than 81 trillion Iraqi dinars, which constitutes an additional burden on the general budget that bears the debt installments and interest, as these costs reach 9 trillion dinars.
He pointed out that the government's continued borrowing lacks any economic justification, especially with the fluctuation of Iraq's GDP as a country dependent on oil revenues, which makes the debt-to-GDP ratio unrealistic or economically feasible.
Dagher concluded his statement by stressing the need to reconsider these financial policies, warning of the repercussions of borrowing on the Iraqi economy if oil prices decline in the future link
