Iraq’s external public debt drops to $20bn

 

Iraq’s external public debt has fallen to $20 billion, the state news agency reported on Saturday, citing the prime minister’s adviser for financial affairs.

Iraq’s foreign debt was $133 billion in September 2020.

Iraq, which relies on oil to fund 95 percent of its 2021 national budget, plans to increase oil exports to 3.4 million barrels per day in the first quarter of 2022.