Tag Archives | Deficit

Iraq Increases Deficit to Pay Salaries

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News. Iraq increases deficit to pay salaries The Iraqi parliament approved on November 12th the funding deficit law, entitling the government to borrow 12 trillion dinars ($10 billion) from internal […]

Iraq to Loosen Purse Strings?

By John Lee. A new report from the International Monetary Fund (IMF) predicts more government spending in the current year. In its Regional Economic Outlook for the Middle East, the IMF says: "In Iraq, the fiscal stance is expected to loosen somewhat as the receipt of previously delayed donor financing relaxes the cash constraint faced […]

Iraq Plans New Bond Issuance

By Simon Kent. Iraqi Central Bank Governor Ali Al-Alak has said that Iraq is issuing bonds to the value of around $2 billion in the next few months, following last year's aborted issuance after investors demanded too high a yield. At the time, investors demanded an 11% yield on the bonds, and the issuance was handled […]

Public Debt to Jump to 66% of GDP

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 […]

Foreign Reserves to Fall to $43bn

By John Lee. According to a report from the International Monetary Fund (IMF), the fall in oil prices since mid-2014 is expected to shift the current account balance from a surplus of 1 percent of GDP in 2014 to a deficit of 7 percent of GDP in 2015 and 6 percent of GDP in 2016. […]