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The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed, on Tuesday (April 27, 2021), the total debts of Iraq, while he confirmed that the external debts payable ranged between 23-25 billion dollars .
In a statement to the Iraqi News Agency, followed by IQ NEWS , Saleh said, "Iraq's debts payable are those that were reduced by the Paris Club agreement and are called pre-1999 debts and debts that were realized during the financial crisis and the war on ISIS, including the remnants of Kuwait's compensation, and they all range between 23-25 billion dollars. "
Saleh added, "The remnants of Iraq's compensation to Kuwait did not exceed two billion dollars," indicating that "the number related to the so-called allocations for debt services, ie the annual interest and installments payable, was estimated in the federal budget for the year 2021 at about 9 trillion dinars, which represents 7% of the total spending." Total in the aforementioned general budget. "
Saleh pointed out that "this percentage is not allocated to foreign debts only, but most of it is allocated to internal debts, which amount to about 70 trillion dinars," explaining that "these debts represent the debt of the government banking system to the Ministry of Finance."
Saleh added, "These quotas for public debt are taken over by internal debts at a rate of more than 60% of the total allocations for public or government debt service in the 2021 general budget, and that they are payments from the government to the government."