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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Sudanese advisor: The total public debt is estimated at $70 billion

    Rocky
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    Sudanese advisor: The total public debt is estimated at $70 billion  Empty Sudanese advisor: The total public debt is estimated at $70 billion

    Post by Rocky Sun 15 Jan 2023, 11:41 am

    Sudanese advisor: The total public debt is estimated at $70 billion 

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    Economy News - Baghdad
    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Sunday, that the foreign reserves in Iraq are very high, while specifying the total public debt. 
    In an interview with the official news agency, Salih said, "The country's internal public debt is currently estimated at about $50 billion, which is entirely owned by the government banking system (that is, debt within the government apparatus and not outside it)."
    He added that "63% of the internal public debt is held by the Central Bank of Iraq and represents local assets in the structure of the central bank's balance sheet," noting that "the remainder of the internal debt is held by the three main government banks, with an annual interest of between 2-3%."
    He pointed out that "the effective external debt that must be paid during the period from 2023 does not exceed 20 billion dollars, which means that the total public debt is estimated at about 70 billion dollars currently and constitutes only a percentage of 30% to 35% of the country's gross domestic product, which is a safe percentage." Very compared to the standard or international standard of 60%. 
    He continued, "The efficiency of the country's foreign reserves is very high and covers external debt liabilities by 5 times, which is a high and reassuring standard ratio and reflects the strength of Iraq's financial situation," noting that "the mechanism for repaying internal and external debts takes place through annual allocations approved in the federal budget." 
    And he continued, "Fiscal policy in Iraq tends to adopt the principle of financial discipline, which is based on gradually reducing the total accumulated public debt, offset by narrowing the annual deficit in the federal general budget and making the debt created when necessary within the standard ratios, not exceeding the created public debt of 3% annually."



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