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External debt for 20 Arab countries are approaching one trillion dollars
Date: 12/31/2016 10:23
Information / Baghdad ..
A boat the size of the total external debt of 20 Arab countries trillion dollars at the end of 2016, is expected to have a GDP rise to $ 207 billion up to 2670 billion dollars in 2017, according to an economic report issued recently.
According to the report issued by the Arab Investment Guarantee Corporation and Export Credit, the external debt stock increased from 426.4 billion dollars as an average for the period between 2000 and 2011 to 891 billion dollars in 2014, then to $ 878 billion in 2015, and then to 923.4 billion dollars in 2016, and it with the feet of many countries in the region to borrow and issue sovereign bonds to finance the deficit in the public budget.
According to the report published by the Saudi "economic" newspaper, the external debt index rose as a percentage of GDP from about 30.3% on average for the period between 2000 and 2011, to 32% in 2014, then to 43.3% in 2015.
At the level of the GDP of the 20 available state data, it has dropped by two billion, which fell from 2465 billion dollars last year to 2463 this year, with expectations to resume rising $ 207 billion to $ 2670 billion in 2017.
The report said that, in accordance with international standards of three of the bank and the International Monetary Fund to the limits of safe foreign debt, the data indicate the presence of ten Arab countries within the safe foreign indebtedness of the border for the first criterion, where the debt-GDP ratio beyond the barrier of 50% for 2015, while there are seven Arab countries where the ratio of between 50% and 90%, and two of more than two percentage to 100% of GDP.
Regarding the criterion II on by external debt to total commodity and service exports that are within safe limits if you do not exceed the percentage of 132%, there is a smaller number of countries, either with respect to the burdens of external debt service to total commodity and service exports, which are generally considered within safe limits If you did not exceed 25%, Veugd acceptable number of Arab countries.
The report predicted, the international reserves of foreign currencies decline in Arab countries to 1001 billion dollars in 2017, as a result of the Gulf states to draw from the reserves to finance government budgets deficit, and that after it was those precautions may have jumped from an average annual rate of 557 billion dollars during the period between 2000 and 2011 to 1061 billion dollars in 2016, while the value of international reserves rose in six Arab countries during the current year, compared to last year, and fell in 12 Arab countries. Finished / 25
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