Analysis of Indicators of Public Debt in Iraq for the Period (2010-2020) and the Possibility of Getting out of it
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Abstract
Public debt is considered one of the major problems facing the Iraqi economy, and this debt is part of a heavy legacy that resulted from many reasons and wrong policies that led to an increase in the size of the debt. Therefore, the research aimed to verify the possibility of the financial authority in Iraq to the extent of its ability to bear the burdens of debt service, based on a set of Economic indicators of public debt, set by international organizations and institutions concerned with this subject, such as the International Monetary Fund and the World Bank, in order to know whether the Iraqi public debt is within safe limits, or has it reached the stage of danger. The research reached a set of conclusions, the most important of which is that Iraq in the year (2016) has exceeded the safe limits of public debt, as the ratio of public debt to GDP reached (62.24%), and also in the year (2020) it has also exceeded the safe limits of public debt, as the debt ratio year to GDP (76.98%), which is an indication of the seriousness of the size of the Iraqi public debt, the weight of the debt burden, and the inability of the Iraqi economy to fulfill its financial obligations towards its creditors.