Iraq’s GDP surpasses $260 billion
Baghdad (IraqiNews.com) – The advisor to the prime minister for technical affairs, Mohamed Sahib Al-Daraji, confirmed recently that Iraq’s gross domestic product exceeded $260 billion.
In a statement to the Iraqi News Agency (INA), Al-Daraji explained that local and foreign investments in Iraq totaled almost $60 billion and the country’s external debt decreased to $9.8 billion.
Iraq has a relatively low foreign debt compared to its GDP, which allows for a new era of external financing under well-considered conditions, according to Al-Daraji.
The Iraqi official indicated that the country’s external debt decreased significantly from $20.9 billion to $9.8 billion.
Al-Daraji highlighted the significance of funding initiatives that are profitable and able to cover their financial obligations, rather than projects focusing on consumer or poorly thought-out enterprises.
Al-Daraji emphasized the need to encourage Iraqi investors in diversifying their assets and noted that the majority of current investments are in the housing and real estate sectors.
https://www.iraqinews.com/iraq/iraqs-gdp-surpasses-260-billion/
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