Today, Friday, October 30, 2026, Haider Abboudi, spokesperson for the Iraqi government, said reports claiming that Iraq intends to borrow 16 trillion dinars from Saudi Arabia, Kuwait, China, Germany and France to cover its budget shortfall are untrue and have no basis.
The government spokesperson said that, given the level of oil exports, Iraq has no need to take out such loans. He also explained that the government’s policy is based on investing and effectively mobilizing domestic revenues to support public spending and meet the state’s financial needs. The increase in oil exports has also played a significant role in boosting revenues.
Concluding his remarks, Haider Abboudi stressed that the government will continue implementing its economic policy, which is built around expanding available financial resources in a way that guarantees funding for expenditures and covers all the country’s financial needs.
