Baghdad:The Iraqi government has refuted claims that it plans to borrow funds from multiple countries to address its budget deficit, emphasizing a reliance on state revenues to support public expenditure.

According to National Iraqi News Agency, government spokesperson Haider Al-Aboudi clarified that reports suggesting Iraq intends to borrow 16 trillion dinars from countries such as Saudi Arabia, Kuwait, China, Germany, and France are false.

Al-Aboudi highlighted that there is no necessity for such borrowing, given the positive indicators related to oil exports. The government’s economic policy focuses on managing Iraq’s revenues efficiently and channeling them towards supporting public expenditure and fulfilling financial obligations.

He further noted that an increase in the ceiling of oil exports has significantly bolstered government revenues. The government is committed to an economic strategy aimed at maximizing financial resources to ensure ongoing public spending and meet the nation’s financial requirements.