Iraq’s May public spending, domestic debt edge down

2025-08-11T10:25:14+00:00

Shafaq News – Baghdad

Iraq’s public spending and domestic debt both declined in May, according to Central Bank of Iraq (CBI) data released on Monday.

Public expenditure stood at 9.35T IQD ($6.67B), down 1.48% from April’s 9.49T IQD ($6.77B) and 12.4% lower than the 10.68T IQD ($7.61B) recorded in May 2024.

Domestic public debt fell marginally to 85.50T IQD ($60.95B) from 85.54T IQD ($60.98B) in April, but was up 8.56% year-on-year from 78.18T IQD ($55.70B) in May 2024.

According to data from Trading Economics, Iraq’s government debt is expected to reach around 44% of GDP by the end of 2025 amid volatile oil revenues.

Oil revenues still account for around 85% of the government budget and over 90% of export earnings, making Iraq highly sensitive to international price fluctuations.