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[size=41]What did the Central Bank of Iraq say about maintaining the salaries of employees and retirees after the collapse in oil prices?
2020-03-19
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Yassin Iraq: Baghdad
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed today, Thursday, the ability of Iraq to secure the salaries of employees and retirees and cover despite the great collapse in oil prices, while stressing that prices will not remain at this level.
Al-Alaq said in a press statement, that "based on our preliminary indicators, we will be able to cover external debt and salaries," stressing that "there is some concern, but it is not acute."
He added, "Oil prices will not remain at this level. We do not expect it to rise much, but it is sufficient to secure the required amounts. ”
Al-Alaq explained that "officials are still closely reviewing the draft 2020 budget, which is one of the largest budget in Iraq that amounts to about 164 trillion dinars."
The member of the Parliamentary Finance Committee, Ahmed Al-Hajj Rashid, had stated earlier, that what Iraq needs for one month's salary according to the allocations of the 2019 budget, which is 358.2 billion three trillion five hundred and eighty two billion dinars.
He added: “If we calculate the salaries according to the allocations for 2020, which amount to (4400) four trillion and four hundred billion dinars, it means that we need about (2200) (two trillion and two hundred billion) additional dinars.”
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