Al-Awadi announces a decrease in external debt to about $9 billion during the current year

Government Spokesman Bassem Al-Awadi announced, today, Monday, that the external debt has decreased to about 9 billion dollars during the current year.

Al-Awadi said in a statement: ‘As an emphasis from the government on transparency in economic work, and informing public opinion and national and international media about Iraqi economic performance, and in light of the Council of Ministers’ approval of the recommendations of the Diwani Order Committee 23942, related to regulating external borrowing and structuring Iraqi public external debt, The government took a series of executive measures and adopted a package of financial decisions, which resulted in reducing the external public debt by more than 50%, bringing the debt down from $19.729 billion in late 2022, to $15.976 billion in 2023, reaching approximately $8.9 billion in the current year.’

He added: “These financial steps, (which included stopping a number of borrowing operations due to their delay and unproductivity, organizing and managing debts an
d auditing them, and restructuring some debts and directing them to create strategic projects), aim to prevent the Iraqi economy from mortgaging obligations that may affect, in the future, the political decision.” Or in the path of national development, which coincides with an urban renaissance and infrastructure reconstruction, which opens the way to a promising future and a revitalized economy, in which our current and future generations perform best and obtain the greatest opportunities.

Al-Awadi stressed that with these firm steps, the government renews its determination to continue making a qualitative shift in the Iraqi economy, in parallel with tangible development in the services, infrastructure and social care sectors, which are all the pillars required to meet the aspirations of our people throughout Iraq, and implement the government program with its priorities. and its targets.’

Source: National Iraqi News Agency