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[size=30]9 trillion..8% of the next budget will be allocated to paying debts
2021-09-26
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Yes Iraq: Baghdad
Mazhar Muhammad Salih, the financial and economic advisor to the Iraqi Prime Minister, revealed today, Sunday, that 9 trillion from the next year's budget 2020 will be allocated to pay debts.
Saleh said in press statements that "the priority in the draft budget law for the year 2022 will be to pay the external and internal debts owed by Iraq, because failure to pay them is considered a failure and a bad international financial indicator."
And he indicated that "nine trillion dinars of debt services (installments and interests) will be paid out of the 2022 budget, and the interest in paying foreign debts is included in the country's good credit rating."
Saleh added that "the draft budget law for the year 2022, so far, has not been completed and work is continuing to complete the project as soon as possible."
And Finance Minister Ali Allawi had announced on the sixth of last August that the 2022 budget, which the ministry began preparing a few days ago, will have a reform dimension, as it is “different from previous budgets” and reflects “the reality of Iraq’s obligations.”
The Ministry of Planning had revealed that “the total amount of the budget is not definitively estimated, but does not exceed 120 to 140 trillion dinars, which is a large number, and the deficit will not be less than 20% based on the supply of requests and expected revenues at best.”
This means that about 6 to 8% of the next budget will go to debt.
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