Debts of some ME countries increase in 2022 – World Bank
QAMISHLI, Syria (North Press) – TheWorld Bank announced last week that external debt stocks of some Middle Eastern countries, including Egypt, Iran and Turkey have increased remarkably.
The bank released that, according to end-of-the-year external debt stocks report of 2022,Egypt’s external debt stocks amounted to $143.3 billion, Iran’s external debt stocks stood at $10.4 billion, Jordan’s debt was $41.8 billion, Lebanon’s debt was $66.9 billion, Turkey’s external debt was $435.5 billion, while Yemen’s debt was $7.6 billion.
In addition, the report mentioned that Syria’s external debt stocks stood at $5 billion at the end of 2021, up from $4.8 billion in 2020.
After about a decade of civil war in Syria, the country’s economy has devastated, as 90% of the population has become below the poverty line and 50% are unemployed, not to mention the severe economic repercussion resulted from sanctions imposed by the US and EU on the country.