The government denies its intention to borrow 16 trillion dinars from other countries.

The Iraqi government denied today, Friday, the rumors regarding Iraq's intention to borrow 16 trillion dinars from Saudi Arabia, Kuwait, China, Germany, and France to cover the budget deficit, affirming that its policy is based on investing revenues to support public spending.

Government spokesman Haidar Al-Abboudi stated in a press interview, which was reviewed by the "News Video Agency," that "the rumors circulating about Iraq's intention to borrow 16 trillion dinars from several countries to cover the budget deficit are incorrect, and there is no need for such borrowing given the oil export indicators."

He added that "the government adopts an economic policy based on the precise employment of Iraq's revenues and utilizing them to support public spending and meet the financial requirements of the state," indicating that "the increase in the ceiling of oil exports has contributed to enhancing revenues."

Al-Abboudi confirmed that "the government is moving forward with its economic policy aimed at maximizing available financial resources to ensure support for spending and meet financial needs."