Iraq debt ratio edges up to 42.9% in 2024

Shafaq News – Baghdad

Iraq’s debt reached 42.9 percent of gross domestic product (GDP) in 2024, slightly higher than 42.1 percent the year before, Trading Economics data showed on Wednesday.

Among Arab states, Sudan recorded the highest debt ratio at 272 percent, followed by Lebanon at 164 percent, while Kuwait posted the lowest at 3 percent. In Europe, Greece topped the list with 154 percent compared to Russia’s 16 percent.

Meanwhile, Mazhar Mohammed Saleh, Financial Adviser to the Iraqi Prime Minister, told Shafaq News that in 2025 Iraq’s public debt stands at less than 33 percent of GDP, maintaining what he described as a “low-risk standing” in global credit rankings.