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Former MP Rasoul Radhi revealed that Iraq’s internal debt has reached 64 trillion dinars, warning that lower revenues are putting increasing pressure on the government’s finances.
Speaking to dinaropinions.com, Radhi said state revenues have declined noticeably following the recent tensions in the region and the drop in oil sales, creating challenges for the government in securing enough funds.
He explained that the government is looking at several options to ensure salaries continue to be paid on time, despite the financial pressures.
According to Radhi, Iraq’s budget includes sovereign, administrative, investment, and operational spending, with operational expenses making up the largest share of total expenditures.
He said one of the main options available to the government is borrowing from state-owned banks such as Al-Rafidain and Al-Rasheed, or obtaining funding through the Central Bank.
Radhi noted that Iraq’s internal debt has now risen to 64 trillion dinars, largely due to reduced revenues entering the state treasury. He explained that the government has increasingly relied on borrowing from local banks and financial institutions to cover budget shortfalls and maintain spending commitments.
He stressed that the decline in revenue highlights the importance of finding sustainable financial solutions to reduce dependence on borrowing and strengthen the country’s economic stability.
