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[size=36]Iraq ranks sixth among the Arab countries with the lowest public debt ratio[/size]
Economy | 11:49 - 04/21/2024
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Mawazine News - Baghdad
Data from the World Bank's spring meetings report revealed that "Iraq ranks sixth with the lowest Arab country in the ratio of public debt to the size of the economy."
According to the data, “Kuwait, Saudi Arabia, and the Emirates came in the countries with the lowest ratio of public debt to the size of the economy, at 3.8%, 26.2%, and 29.2%, respectively. Oman came fourth with a rate of 37.6%, followed by Qatar fifth with a rate of 41.4%, and Iraq came in sixth place with a rate of 45.5 %".
She added, "The percentage of public debt in Lebanon, Bahrain, Jordan, and Yemen exceeded 100% of the gross domestic product and will come after the year 2023, according to data approved next month by the World Bank."
He stated that the bank had previously issued a report in which it addressed the latest economic developments in the Middle East and North Africa region, entitled “Conflict and Debt in the Middle East and North Africa Region,” which showed that weak growth, high levels of indebtedness, and increasing uncertainty resulting from conflicts in the region cast their shadows on... All economies of the Middle East and North Africa countries.
According to the report, the economies of the Middle East and North Africa are expected to return to low growth rates similar to the period before the Corona pandemic, and the GDP of the Middle East and North Africa region is expected to rise to 2.7% in 2024, which is a slight increase from 1.9% in 2017. 2023. As in 2023, oil-importing and oil-exporting countries are likely to grow at less uneven rates than in 2022, when higher oil prices boosted growth in oil-exporting countries.
According to the data, “Kuwait, Saudi Arabia, and the Emirates came in the countries with the lowest ratio of public debt to the size of the economy, at 3.8%, 26.2%, and 29.2%, respectively. Oman came fourth with a rate of 37.6%, followed by Qatar fifth with a rate of 41.4%, and Iraq came in sixth place with a rate of 45.5 %".
She added, "The percentage of public debt in Lebanon, Bahrain, Jordan, and Yemen exceeded 100% of the gross domestic product and will come after the year 2023, according to data approved next month by the World Bank."
He stated that the bank had previously issued a report in which it addressed the latest economic developments in the Middle East and North Africa region, entitled “Conflict and Debt in the Middle East and North Africa Region,” which showed that weak growth, high levels of indebtedness, and increasing uncertainty resulting from conflicts in the region cast their shadows on... All economies of the Middle East and North Africa countries.
According to the report, the economies of the Middle East and North Africa are expected to return to low growth rates similar to the period before the Corona pandemic, and the GDP of the Middle East and North Africa region is expected to rise to 2.7% in 2024, which is a slight increase from 1.9% in 2017. 2023. As in 2023, oil-importing and oil-exporting countries are likely to grow at less uneven rates than in 2022, when higher oil prices boosted growth in oil-exporting countries.
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