By John Lee.
According to a report from the International Monetary Fund (IMF), the fall in oil prices is causing a sharp deterioration of Iraq's fiscal position.
The analysis finds that the budget deficit increased from 6 percent of GDP in 2014 to 15 percent of GDP in 2015 and a projected 10 percent of GDP in 2016 (provided certain measures are taken).
Total public debt increases from 39 percent of GDP in 2014 to 62 percent of GDP in 2015 and 66 percent of GDP in 2016 as result of a sharp increase of mostly domestic borrowing to finance the deficit.
(Budget image via Shutterstock)
Deprecated: related_posts is deprecated since version 5.12.0! Use yarpp_related instead. in /srv/users/ibn/apps/ibn/public/wp-includes/functions.php on line 5211