Baghdad:The Iraqi government has dismissed reports that it plans to borrow 16 trillion dinars from countries such as Saudi Arabia, Kuwait, China, Germany, and France to address its budget deficit. The government has clarified that its strategy revolves around utilizing Iraq’s revenues to sustain public spending.

According to Iraqi News Agency, government spokesperson Haider Al-Aboudi stated that the claims of Iraq intending to borrow from several countries are false, highlighting that there is no necessity for such borrowing due to the current oil export indicators.

Al-Aboudi further explained that the government’s economic policy is focused on the strategic allocation of Iraq’s revenues to support public spending and fulfill the state’s financial obligations. He noted that the increase in oil exports has significantly bolstered the country’s revenues.

He reiterated the government’s commitment to its economic strategy, which aims at optimizing financial resources to ensure adequate support for public spending and the fulfillment of financial needs.