The Treasury’s debt level has been monitored before the start of the COVID-19 pandemic despite a significant increase in public investment, according to a report on the government’s policy during the 2017-2021 period.

The Treasury’s debt showed a positive trend for the first time in 2019, after a continuous increase since 2008, the report noted.

The debt ratio increased by about 19.5% between 2008 and 2016, before a decrease of 0.2% between 2017 and 2019.

However, the Covid-19 pandemic context has led to a remarkable increase in the Treasury debt level, the report added.

The domestic market remains the Treasury’s principal source of financing, accounting for two-thirds of the total debt, it stated.

The government has successfully limited the budget deficit to -3.63% of Gross Domestic Product (GDP) during 2017-2019, compared to -4.68% between 2013 and 2016 despite investment efforts made in the past few years, it concluded.