Iraq’s home debt increased by 5.four% in 2024, with the Ministry of Finance emerging as the most important debtor, consistent with a file through the primary financial institution of Iraq released Thursday.
The document found out that Iraq’s internal debt stood at 73.three trillion dinars (approximately 56 Billion USD) inside the first quarter of 2024, up from 69.five trillion dinars about (fifty three Billion USD) within the equal length last 12 months.
The upward thrust became mostly attributed to a 139.nine% increase in bond-related debt, notwithstanding declines in maximum other debt classes. The debt turned into dispensed among loans to financial institutions, debts to state-owned banks, the Ministry of Finance, crucial financial institution-issued treasury bonds, and authorities securities.
The Ministry of Finance holds the most important share, with a debt of forty one.393 trillion dinars. however, the report cited a decline in the proportion of debt categories, besides for bonds, that’s seen as a nice sign. This shift shows that the authorities has an increasing number of relied on public financing to cowl its budget deficit, thereby positively affecting the circulate of currency in the economic system.
