The government spokesman announces a reduction in Iraq's debt by 50%...it has reached only 15 billio

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[size=52]The government spokesman announces a reduction in Iraq's debt by 50%...it has reached only 15 billion[/size]

[size=45]The Iraqi government spokesman, Bassem Al-Awadi, confirmed that the government adopted a package of financial decisions, which ended in reducing the external public debt by more than 50%, bringing the debt down from $19.729 billion in late 2022, to $15.976 billion in 2023, reaching approximately $8.9 billion this year.[/size]
[size=45]Statement by the government spokesman:
As an emphasis from the government on transparency in economic work, and informing public opinion and national and international media about Iraqi economic performance, and in light of the Council of Ministers’ approval of the recommendations of the Diwani Order Committee 23942, related to regulating external borrowing and structuring Iraqi public external debt, The government took a series of executive measures and adopted a package of financial decisions, which resulted in reducing the external public debt by more than 50%, bringing the debt down from $19.729 billion at the end of 2022, to $15.976 billion in 2023, reaching approximately $8.9 billion. In the current year.[/size]
[size=45]These financial steps, (which included halting a number of borrowing operations due to their delay and lack of productivity, organizing and managing debts and auditing them, and restructuring some debts and directing them to create strategic projects), aim to prevent the Iraqi economy from mortgaging obligations that may affect, in the future, the political decision, or the The path of national development, which coincides with an urban renaissance and infrastructure reconstruction, which opens the way to a promising future and a revitalized economy, in which our current and future generations perform best and obtain the greatest opportunities.[/size]
[size=45]In a parallel context, the government organized the process of financing cooperation with the international community in specific contexts, including direct productive borrowing, providing sovereign guarantees to ensure the production of projects undertaken by the private sector for the benefit of the government, and sovereign guarantees provided by the government for the benefit of institutions that finance the Iraqi private sector importing production lines for Building factories inside Iraq.[/size]
[size=45]These steps pave the way towards further integration of our country into the international economic cycle, and for the government to adopt the principle of productive borrowing only, which effectively leads to an increase in domestic product, and the financing of national service and productive projects with economic returns, in a way that ensures their completion and not delay.[/size]
[size=45]With these firm steps, the government renews its determination to continue making a qualitative shift in the Iraqi economy, in parallel with tangible development in the services, infrastructure, and social care sectors, which are all the pillars required to meet the aspirations of our people throughout Iraq, and implement the government program with its priorities and goals.[/size]
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