Home
[size=35][size=35]"It is not true." An economic vision about the World Bank's figures on Iraq's public debt[/size]
[You must be registered and logged in to see this link.]
[/size]
[You must be registered and logged in to see this link.][/size]
2023-08-21 | 02:19
[You must be registered and logged in to see this image.]
[/size]
969 views
Alsumaria News - Economy
[ltr]
0 seconds of 0 seconds Volume 0%
[/ltr]
Al-Marsoumi said in a post, followed by Al-Sumaria News, that "the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url]'s figures on public debt in [You must be registered and logged in to see this link.] are incorrect, which is that the public debt for the year 2023 amounts to 152 billion dollars, and the external debt amounts to 50 billion dollars, and the internal debt is 102 billion dollars. As for the ratio of public debt to The gross domestic product is equal to 58.3%.
He added, "These figures assume that the 2023 budget will be fully implemented, which will result in adding about $31 billion to the total public debt. It is expected that this budget will not be fully implemented, especially after its implementation was delayed until the current month of August, which casts doubts about the credibility of these numbers".
Al-Marsoumi indicated that, "[You must be registered and logged in to see this link.]'s external debt, along with the frozen Gulf debt, amounts to $61 billion, not $50 billion, and after the budget is fully implemented, it will become about $70 billion."
He continued, "The internal debt amounts to 70 trillion dinars, and upon implementation of the budget, it will become 100 trillion dinars, or about 77 billion dollars, not 102 billion dollars."
The legal expert explained that "the total public debt will be in the case of fully implementing the budget 138 billion dollars, not 152 billion dollars, as the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] says."
Earlier, the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] stated in the report issued on the economy in [You must be registered and logged in to see this link.] and its debts, under the title: (Renewed pressures: [You must be registered and logged in to see this link.]'s recovery is in danger) that "the Iraqi economy suffers from stagnation in non-oil gross domestic product, industries, and agricultural activities, which was accompanied by high rates of Inflation, as [You must be registered and logged in to see this link.], under its current government, lacks large-scale structural reforms that would strengthen its economy away from oil.
And he indicated that "the annual budget approved by the government authorities is witnessing a significant increase in the volume of public expenditures by 59% over the previous year, which represents 74.3% of total spending, which will lead to a large fiscal deficit of 51.6 trillion Iraqi dinars - equivalent to 39.7 billion dollars." - Which represents 14.3% of the volume of public imports, i.e. more than half of the recent record reserves that were accumulated in the wake of the boom in oil prices.
And regarding the policies of the (central bank) in devaluing the local currency, the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] stated that "the devaluation of the Iraqi dinar led to an increase in aggregate and basic inflation, due to the heavy dependence on import operations in light of the weak local production that is not supported by government authorities, which exposed the country's fragile economy." ".
The [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] report added that "the standards of transactions adopted by the (Central Bank) through auctions for the sale of currency; caused the redirection of hard currency to the parallel market, which caused a decrease in the value of the dinar against the dollar."
According to the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url], "[You must be registered and logged in to see this link.]'s lack of diversification of income sources due to the chaotic policies of successive governments led to a contraction of the gross domestic product by 1.1% in 2023 and an increase in the country's public debt to reach 58.3%, after it was 53.8% in the previous year, which will reach 152 billion." dollars, an increase of $10 billion, while the total external debt amounted to $50 billion, and the internal debt amounted to $102 billion, which means that government authorities borrowed about $60 billion internally in the previous three years, at a rate of $15 billion annually, with annual interest on internal debts amounting to 16 to 17% of the total debt.
According to the bank, “the prospects for the economic future in [You must be registered and logged in to see this link.] are still exposed to great risks, due to excessive dependence on oil, which makes it vulnerable to shocks in oil markets and global demand, as evidenced by the recent decline in oil prices, in addition to the drivers of fragility that pose fundamental challenges.” economy, such as rampant corruption, poor service provision, infrastructure development, and security risks.
The [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] added that "the continuation of the government authorities in pursuing these policies will make the country's budget in favor of the political parties that have delayed the wheel of development and made it suffer from major imbalances despite the passage of two decades of allegations of the end of the war."
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
[/size]
Economy
[size][size][You must be registered and logged in to see this link.][/size]
2023-08-21 | 02:19
[You must be registered and logged in to see this image.]
[/size]
969 views
Alsumaria News - Economy
The economist, Nabil Al-Marsoumi, presented an economic vision on the Central Bank's figures regarding the volume of public debt in Iraq, while explaining the impact of the budget law on the volume of debt.
[ltr]
0 seconds of 0 seconds Volume 0%
[/ltr]
Al-Marsoumi said in a post, followed by Al-Sumaria News, that "the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url]'s figures on public debt in [You must be registered and logged in to see this link.] are incorrect, which is that the public debt for the year 2023 amounts to 152 billion dollars, and the external debt amounts to 50 billion dollars, and the internal debt is 102 billion dollars. As for the ratio of public debt to The gross domestic product is equal to 58.3%.
He added, "These figures assume that the 2023 budget will be fully implemented, which will result in adding about $31 billion to the total public debt. It is expected that this budget will not be fully implemented, especially after its implementation was delayed until the current month of August, which casts doubts about the credibility of these numbers".
Al-Marsoumi indicated that, "[You must be registered and logged in to see this link.]'s external debt, along with the frozen Gulf debt, amounts to $61 billion, not $50 billion, and after the budget is fully implemented, it will become about $70 billion."
He continued, "The internal debt amounts to 70 trillion dinars, and upon implementation of the budget, it will become 100 trillion dinars, or about 77 billion dollars, not 102 billion dollars."
The legal expert explained that "the total public debt will be in the case of fully implementing the budget 138 billion dollars, not 152 billion dollars, as the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] says."
Earlier, the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] stated in the report issued on the economy in [You must be registered and logged in to see this link.] and its debts, under the title: (Renewed pressures: [You must be registered and logged in to see this link.]'s recovery is in danger) that "the Iraqi economy suffers from stagnation in non-oil gross domestic product, industries, and agricultural activities, which was accompanied by high rates of Inflation, as [You must be registered and logged in to see this link.], under its current government, lacks large-scale structural reforms that would strengthen its economy away from oil.
And he indicated that "the annual budget approved by the government authorities is witnessing a significant increase in the volume of public expenditures by 59% over the previous year, which represents 74.3% of total spending, which will lead to a large fiscal deficit of 51.6 trillion Iraqi dinars - equivalent to 39.7 billion dollars." - Which represents 14.3% of the volume of public imports, i.e. more than half of the recent record reserves that were accumulated in the wake of the boom in oil prices.
And regarding the policies of the (central bank) in devaluing the local currency, the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] stated that "the devaluation of the Iraqi dinar led to an increase in aggregate and basic inflation, due to the heavy dependence on import operations in light of the weak local production that is not supported by government authorities, which exposed the country's fragile economy." ".
The [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] report added that "the standards of transactions adopted by the (Central Bank) through auctions for the sale of currency; caused the redirection of hard currency to the parallel market, which caused a decrease in the value of the dinar against the dollar."
According to the [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url], "[You must be registered and logged in to see this link.]'s lack of diversification of income sources due to the chaotic policies of successive governments led to a contraction of the gross domestic product by 1.1% in 2023 and an increase in the country's public debt to reach 58.3%, after it was 53.8% in the previous year, which will reach 152 billion." dollars, an increase of $10 billion, while the total external debt amounted to $50 billion, and the internal debt amounted to $102 billion, which means that government authorities borrowed about $60 billion internally in the previous three years, at a rate of $15 billion annually, with annual interest on internal debts amounting to 16 to 17% of the total debt.
According to the bank, “the prospects for the economic future in [You must be registered and logged in to see this link.] are still exposed to great risks, due to excessive dependence on oil, which makes it vulnerable to shocks in oil markets and global demand, as evidenced by the recent decline in oil prices, in addition to the drivers of fragility that pose fundamental challenges.” economy, such as rampant corruption, poor service provision, infrastructure development, and security risks.
The [url=https://www.alsumaria.tv/Entity/44808/%D8%B5%D9%86%D8%AF%D9%88%D9%82 %D8%A7%D9%84%D9%86%D9%82%D8%AF %D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A/ar/]World Bank[/url] added that "the continuation of the government authorities in pursuing these policies will make the country's budget in favor of the political parties that have delayed the wheel of development and made it suffer from major imbalances despite the passage of two decades of allegations of the end of the war."
[You must be registered and logged in to see this link.]
» Parliamentary Finance: Amending the Federal Budget Opens the Way to Change Ineffective Paragraphs
» utube 11/23/24 MM&C Reporting-Expectations are High-IMF-Flexible Exchange Rate Regime-Pr
» utube 11/26/24 MM&C MM&C Iraq News-Central Bank Iraq-Monetary Stability Excellent-Budget Law 2023,
» utube 11/27/24 MM&C The National Union explains the reasons for not legislating the oil and gas
» Mr. Al-Hakim: Oil dependence is an economic problem for Iraq, and decentralization is a guarantee of
» Al-Ziyadi: Amending the Investment Law and the Central Bank’s Interaction Guarantee the Success of t
» Iraq signs Mecca agreement to enhance cooperation in combating corruption and recovering its proceed
» Rights Center: 2024 Census Will Not Change Number of House of Representatives Seats.. Explains Why
» Parliamentary Oil: Amending a paragraph in the budget enhances oil exports and understanding with Ku
» Will Iraq take the adventure of joining BRICS despite American risks?
» MP: Former Oil Minister Blackmailed Main Suspect in Stealing the Century
» Negative impact on the legislation of laws.. Popular movement criticizes the weak performance of the
» Al-Maliki Coalition: Most blocs support amending the electoral law
» The National Union explains the reasons for not legislating the oil and gas law
» Iraq signs two memoranda of understanding with the Arab Tourism Organization
» Parliamentary Committee: Granting investment licenses reduces housing unit prices
» Parliamentary Finance: Amending the budget law will allow for changing useless paragraphs and items
» MP reveals latest developments in Personal Status Law
» Salary scale pushes towards hosting Al-Sudani inside the parliament dome
» Intensive meetings with British BP to develop Kirkuk fields
» "Al-Eqtisad News" publishes the full decisions of the Cabinet session
» Parliamentary Energy: Iraq continues its efforts to diversify gas supply sources
» What is Iraq's connection? Goldman Sachs: OPEC+ cuts may support oil in the short term
» New understandings between Baghdad and Erbil to export oil via Turkish Ceyhan
» Minister of Communications: We will deal with the global parent company Vodafone, not its branch in
» "Pessimism" about Trump's arrival to the US presidency.. Will it affect the Iraqi economy?
» Iraq is the fourth largest Arab country and the 51st largest in the world in the list of the world's
» Parliamentary criticism follows granting Vodafone the national mobile phone license
» Oil Markets: OPEC+ Plans to Increase Production, Trump's Promises Spark Controversy
» Natural barriers to stop desertification in the country
» Parliament Legality to Al-Sabah: Extending the Legislative Session Aims to Pass Important Laws
» The Council of Ministers takes 19 important decisions
» Al-Sudani: We succeeded in sparing Iraq the consequences of conflicts
» 20 schools with international standards in Babylon
» Transport to {Sabah}: One million passengers on board the Green Bird in 4 months
» Agriculture to {Sabah}: Strategic work programs to stop desertification in the country
» Food Basket: Improved Quality, Delayed Distribution
» Parliament extends its term and ends reading of three laws
» Great government achievements.. Model school buildings project
» Parliamentary meeting to discuss four important oil files
» Parliamentary Committee: We support amending the budget law and we submitted a request to add a new
» Al-Sudani stresses the importance of relations between Iraq and Kuwait and the government's efforts
» Al-Sudani leaves Baghdad for Spain on an official visit
» Economist: Non-oil revenues to achieve significant growth in 2024
» Transport signs a consulting contract with an Italian company regarding the first phase of the devel
» Iraqi Exhibitions Announce New Exhibitions Next Month
» Integrity: Iraq signs Mecca Agreement to enhance cooperation in combating corruption
» Despite setting the first session... the talks to form the regional government are at a standstill a
» Speaker of the House of Representatives discusses a number of important national issues with the Pre
» Iraqi oil falls again on third day of trading
» Economist: Iraq has a reliable database and the census does not create development but rather facili
» Decisive moves to propose salary scale amendment under the parliament dome
» To solve the overcrowding crisis, Iraq needs to build 10,000 schools
» 64% of Anbar power plant in Hit completed: A qualitative step to enhance energy
» Minister of Interior: We discussed with the United Kingdom ways of security and intelligence coopera
» The possibility of an Israeli strike on Iraq is increasing.. Will the factions stop the attacks if a
» Halt of Iranian gas supplies threatens operation of power plants in Iraq
» The Presidency of the Region announces: The new parliament will hold its first session on the second
» America: Factions in Iraq expose the country to the risk of instability
» Planning reveals the next step of the census: We will visit these families
» Health: Opening of three new factories to produce various medicines
» Health: Ongoing work to develop and create new specialized centers throughout Iraq
» The House of Representatives completes the first reading of the draft law amending the first three-y
» President of the Republic: The necessity of unifying efforts to establish peace and stability in the
» Al-Mandlawi to Kuwaiti Ambassador: The security of the region is indivisible
» Indian Oil Corporation maintains deal to import Iraqi oil
» Iraq's oil exports exceed 103 million barrels last month
» MP angry over obstruction of defense minister’s interrogation: Files threaten Iraq’s security collap
» Cabinet decisions include those related to “voluntary deduction” and Iraqi airports
» For the first time since 2003, non-oil revenues achieve significant growth during 2024 (tables)
» Find out the dollar prices in the Iraqi markets
» A new suspicion in the railways, its heroes are the “22 billion contract team”.. Signing a contract
» Prime Minister sponsors signing of two memoranda of understanding in the field of tourism
» Parliamentary Finance Committee discusses amending the three-year budget
» "Rich Iraq" seeks "money" to combat methane emissions: internal and external obstacles
» Increase in foreign remittance sales at the Central Bank of Iraq auction
» Its area is 2.5 million acres, and these are its details.. Work begins on a "large" residential city
» Kurdistan Finance delivers employees' salary schedule to the federal government
» Beggars are sweeping the streets of Iraq.. Their numbers are "large" and 90% of them receive welfare
» Settling tax trust claims
» Launching the National School Health Strategy
» Approval to implement service projects in Babylon
» New container handling berths at ports
» Work: Demand for registration in social security
» Reconstruction: Land Bank to be completed next year
» Aiming to enhance services in schools and prevent diseases, the National School Health Strategy for
» Karmian Festival witnesses the conclusion of commercial and industrial contracts
» Focus on the banking sector
» Minister of Trade: Studies Center is a turning point that serves the Iraqi economy
» Economists: Census is a roadmap for development
» Today's newspapers are interested in Al-Sudani's announcement that the population of Iraq exceeds 45
» International Development Bank: Today's incident was an extortion attempt that did not affect our wo
» thirty-sixth session, chaired by the Minister of Planning
» Closed meeting of the Parliamentary Finance Committee to discuss seven files
» The demographic boom in Iraq: an economic opportunity or a social burden?
» Al-Sudani confirms to Russian delegation Iraq's desire to establish a mechanism that brings mutual b
» Parliament holds its session headed by Al-Mashhadani and attended by 168 MPs
» The Iraqi government deducts 1% of the salaries of employees and retirees to donate to Gaza and Leba