Home
Dagher: I do not understand why we borrow when oil has exceeded $70
December 26, 2024
Baghdad / Iraq Observer
Economist Dr. criticized Mahmoud Dagher, today, Thursday, discussed the economic policies that push Iraq to borrow despite oil prices exceeding $70 per barrel.
Dagher explained that the
external debt exceeded the numbers announced according to the World Debt Report, while the
internal debt amounted to more than 81 trillion Iraqi dinars, which constitutes an additional burden on the general budget, which bears debt installments and interest, as
these costs reach 9 trillion dinars. He pointed out that the
government's continued borrowing lacks any economic justification,
especially with the fluctuation of Iraq's GDP as a country dependent on oil revenues, which makes the ratio of debt to GDP unrealistic or economically feasible.
Dagher concluded his statement by stressing the
need to reconsider these financial policies,
warning of the repercussions of borrowing on the Iraqi economy if oil prices decline in the future.
[You must be registered and logged in to see this link.]
December 26, 2024
Baghdad / Iraq Observer
Economist Dr. criticized Mahmoud Dagher, today, Thursday, discussed the economic policies that push Iraq to borrow despite oil prices exceeding $70 per barrel.
Dagher explained that the
external debt exceeded the numbers announced according to the World Debt Report, while the
internal debt amounted to more than 81 trillion Iraqi dinars, which constitutes an additional burden on the general budget, which bears debt installments and interest, as
these costs reach 9 trillion dinars. He pointed out that the
government's continued borrowing lacks any economic justification,
especially with the fluctuation of Iraq's GDP as a country dependent on oil revenues, which makes the ratio of debt to GDP unrealistic or economically feasible.
Dagher concluded his statement by stressing the
need to reconsider these financial policies,
warning of the repercussions of borrowing on the Iraqi economy if oil prices decline in the future.
[You must be registered and logged in to see this link.]
