Outside The Debt Circuit
Economic 2025/02/24 Bashir Khazal For many years, external debt formed a great burden on the treasury of the Iraqi state, to pay the debts of countries, banks and global organizations, due to the absurd wars that have rolled over the country since the eighties The state's revenues are mortgaged in a large part to pay that debt.
However, the rotation towards an effective and successful economic policy in the recent period led to the enforcement of Iraq from the largest part of it, and it has become out of the danger of banks and creditors abroad.
A step in the right direction is calculated for the current government in its program for developing the Iraqi economy.
For the first time, the Iraqi state gets rid of the burden of external debt that it has set economically after the war from the year 1980 to the present time.
Currently, the remainder of debts to international parties constitute only less than 9 billion A dollar is from now to the year 2028, and
the ratio of this debt compared to GDP does not constitute a burden on the state,
It constitutes what is 5 percent of GDP, and the
global standard allows 60 percent of GDP to be external debts.
At this stage, Iraq has become a well-fortified country in the place of external debt.
More precisely that it has become outside the dangers of external debt, which gives the country high credit in the field of global credit rating,
with an integrated coordination between the Central Bank of Iraq and the Ministry of Finance in paying debt dues, whether debt services are "benefits and installments" or pay the debts once",
It is also calculated to perform these economic institutions that were able to take good steps despite the presence of corruption cases from here and there, the
government
is still working to fight it. By all means, exercising successful policies by public finances in the subject of debt, through the
financial strengthening of external debt extinguishing, and
borrowing in a lower rate,
which led to positive results that reflected its reality on the entire Iraqi economy, and by 2028 the external debts will remain due.
Steps in the right direction in the government's economic policy that supports its foreign policy, and
Iraq has the opportunity to turn into the most important global economic country,
especially since foreign investments put its eye that Iraq is a country of diverse resources and raw materials necessary for a large strategic industries that enter a large part of it in the field of energy production.
Despite the difficult crisis and conditions that the region and the regional environment in particular, we see that
Iraq also succeeded to distance itself as a country away from the conflicts and wars that can deplete its wealth, capabilities and human and natural resources, as
the successful policy is that the decision is correct and effective in crises and returns to it. Multiple-sided benefits in the present and future. https://alsabaah.iq/110621-.html