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KTFA
Al-Ghurairi said in a statement: “Iraq has completed all the technical files required to join the World Trade Organization, after a negotiation process that extended for more than twenty years, during which Iraq faced many challenges and delays.”
He added: “This achievement was made during the term of the current government, with an intensive qualitative effort that exceeded what was achieved in the previous stages combined,” stressing: “Iraq is now in an advanced position paving the way for completing the requirements for full membership.”
The Minister of Trade explained: “The national team concerned with accession, in coordination with the relevant ministries and sectoral bodies and in partnership with international institutions, has completed the review and update of all technical files, which included: the foreign trade system memorandum, the legislative implementation plan, agricultural support tables, the import licenses file, customs valuation, in addition to the sanitary and phytosanitary (SPS) files and technical barriers to trade (TBT).”
He continued: “The team also prepared accurate answers to (175) questions and inquiries submitted by the member states of the organization, while the Iraqi customs system was updated to the latest version in line with international standards and enhances Iraq’s readiness for the next stages.”
He stressed: “The files will be officially submitted to the World Trade Organization Secretariat through diplomatic channels, in preparation for holding the next meeting of the working group.” LINK
“THAT PERCENTAGE REQUIRES A NEW EXCHANGE RATE”……F26
Al-Sudani’s advisor: Iraq’s external debt is at its lowest level in history, not exceeding 10% of GDP.
8/23/2025 – Baghdad
The Prime Minister’s Advisor for Economic Affairs, Mazhar Mohammed Saleh, revealed that external public debt in all its forms is at its lowest level in the history of public finance.
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Mazhar Mohammed Saleh said, “The Iraqi economy is one of the most cash-generating economies with high financial flexibility to meet the liquidity requirements of the economy in general, and the liquidity of public finances in particular, despite the rentier economic difficulties the country is facing due to external geo-economic factors witnessed worldwide and the Middle East in recent months.”
Regarding external public debt, Al-Sudani’s advisor explained that “in all its forms (sovereign and commercial), it is currently at its lowest level in the country’s public finance history, with the portion due to be repaid by 2028 not exceeding 5% of GDP, or approximately 9 billion.”
He pointed out that “adding the long-term external debt to the debt due above, it does not exceed 10% of the GDP, and a total of approximately $18 to $20 billion.”
Regarding borrowing procedures, Mazhar Mohammed Saleh explained that “based on the strong fiscal space provided by fiscal policy for domestic borrowing and repayment, public finances have resorted to borrowing from the domestic market to meet public spending needs when necessary.”
He added, “The domestic debt stands at nearly 92.2 trillion dinars, some of which has accumulated over previous years. Today’s domestic debt is borrowed from the local financial market to finance the government’s financial leverage due to the drop in oil prices to below the rate stipulated in Federal General Budget Law No. 13 of 2023, the amended three-year budget.”
He noted that “about 47% of this domestic public debt is in the Central Bank’s investment portfolio, backed by high foreign reserves approaching $100 billion,” adding that “the total domestic and external debt as a percentage of GDP does not exceed 40%, which is within the global safe range of 60% of GDP. Therefore, Iraq’s public debt as a whole falls within the criteria of international financial and economic stability.”
Mazhar Mohammed Saleh warned of “expanding debts,” and that a disciplined policy must be adopted to maximize resources, especially non-oil ones, as part of the current government program.
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He emphasized that “Iraq is one of the countries keen to repay its foreign debts within the public spending allocations in the annual general budget.
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