Economist: Covering the 2025 budget deficit with domestic debt is a great risk
Economist: Covering the 2025 budget deficit with domestic debt is a great risk
1-28-2025
Information/Special..
Economic expert Nabil Al-Marsoumi warned, today, Tuesday, of the danger of covering the high financial deficit in the 2025 budget with internal debts.
Al-Marsoumi said in an interview with Al-Maalouma Agency, “The state’s public expenditures are constantly increasing, and therefore the budget deficit continues. The financial budgets after 2003 included a planning deficit of a certain amount, and then when the budget is implemented, there is a surplus.” He indicated that “we noticed in the financial budget for the year 2024 a deficit of more than 20 trillion dinars, which is an actual deficit, not a hypothetical or speculative one.”
He added that “this matter leads to an increase in the internal debt, which has become 83 trillion dinars after it was around 70 trillion dinars,” noting that “covering the financial deficit in the budget through the internal debt is the source of danger in Iraq today and causes great burdens and weakens the state’s financial capacity, as well as casting a shadow over the general economic movement in the country.”
It is noteworthy that the amendment of the financial budget for the current year is witnessing a lot of controversy, especially with the delay in sending the budget tables to Parliament until today, while representatives confirm that they will not vote to pass the law unless some of its paragraphs are reconsidered, including Article 12 related to the costs of extracting oil from the Kurdistan Region and dealing with its smuggling.
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