An American magazine reveals the size of Iraq's foreign debt for the year 2021
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The American magazine Global Finance said in its schedule for the year 2021, which was reviewed by Shafak News Agency; Iraq's foreign debt during 2021 amounted to $69.684 billion, down from "the year 2020, which amounted to $81.153 billion in 2020," noting that "Iraq's debt for 2019 amounted to $47.705 billion and in 2018 it amounted to $50.018 billion."
She added that "the most indebted Arab countries during the year 2021 were for Sudan, where its external debt amounted to 211.656 billion dollars, preceded by Eritrea with a debt of 175.575 billion dollars, followed by Bahrain, with its external debts amounting to 129.417 billion dollars, followed by Egypt with a debt of 92.858 billion dollars, and then Jordan preceded it with a debt of $91.172 billion, while no debt was recorded in Lebanon for the year 2021, as there were no statistics during this year, after its external debt for the year 2020 amounted to $154.364 billion.
Globally, Japan was the most indebted country in the world during 2021, with a value of 256.494 billion dollars, followed by Sudan with 211.656 billion dollars, followed by Greece with 210.093 billion dollars.
The magazine noted that sometimes tax revenue is less than expected, and by borrowing the government can cover temporary deficits without cutting spending, sometimes, the shortfall is not temporary and the government is running a structural deficit.
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