Iraq: Government debt

* indicates monthly or quarterly data series

Government debt as percent of GDP

 Latest value 58.92
 Year 2017
 Measure percent
 Data availability 2004 - 2017
 Average 97.68
 Min - Max 31.99 - 344.32
 Source International Monetary Fund (IMF)
For that indicator, we provide data for Iraq from 2004 to 2017. The average value for Iraq during that period was 97.68 percent with a minimum of 31.99 percent in 2013 and a maximum of 344.32 percent in 2004. The latest value from 2017 is 58.92 percent. For comparison, the world average in 2017 based on 186 countries is 55.47 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
Select indicator
* indicates monthly or quarterly data series

Recent values chart
Iraq - Government debt - Recent values chart

Historical chart
Iraq - Government debt - historical chart - 2004-2017

The government debt in Iraq and other countries is calculated as the total amount owed by the national government to domestic and international lenders. It is reported as percent of GDP so that we can evaluate its magnitude relative to the size of the economy.

Government debt of about 60 percent or less of GDP is not considered a problem. The government can make payments without strain and even has some room to borrow more. If debt levels reach 80-90 percent that may have negative effects on the economy. Debt above 120 percent of GDP is quite detrimental.
Definition: Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year.

 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 17.89 2021 percent
 Government spending, in dollars 37.15 2021 billion U.S. dollars
 Fiscal balance, percent of GDP 11.68 2022 percent
 Government debt 58.92 2017 percent
 Tax revenue 1.34 2019 percent
 Commercial tax rate 30.80 2019 percent
 Tax preparation time 312 2019 hours
 Number of taxes 15 2019 taxes
 Taxes on goods and services 0.35 2019 percent
 Taxes on international trade 0.89 2019 percent
 Income and profits taxes 1.99 2019 percent
 Foreign aid 1,809.38 2021 million U.S. dollars
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