Central Bank: Iraq’s debt is moderate and within safe limits.

The Central Bank of Iraq stressed that the ratio of public debt to GDP did not exceed 43%, describing it as moderate and within internationally safe limits, and does not constitute a burden on the national economy.

The statements came in response to media reports regarding the size of the public debt and the deficit in the three-year general budget.

The statement explained that the planned deficit amounted to (191.5) trillion dinars, while the actual deficit did not exceed (35) trillion dinars, and was covered internally with bonds and transfers, which reflects the level of coordination between the government and the Central Bank to control the public debt. The statement added that the external debts due do not exceed (13) billion dollars, and the internal debt of (91) trillion dinars is mostly within the government banking system, and part of it is being transferred to investment instruments within a national fund.

For his part, economic expert Dr. Nabil Rahim Al-Abadi said that the statement delivers a well-thought-out message of reassurance, reflecting a high level of financial discipline and a drive toward financial sustainability and economic diversification away from a single reliance on oil.

Alsabaah.iq