[size=36]Parliamentary expectations that the government will borrow to cover the salaries of its employees[/size]
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expects a member of the Parliamentary Finance, Sherwan Mirza, on Wednesday, to direct the Iraqi government to borrow in order to provide two billion dollars to cover the salaries of its employees.
Mirza said, "Among the crises facing the Iraqi state is the drop in oil prices and its repercussions on the economy," believing that "the solution to this problem is closely related to overcoming the political crisis and the crisis of the Corona epidemic that affected the trade movement."
He added, "Overcoming this economic crisis in the long run requires finding alternative sources of oil to support the revenues of the Iraqi state, which depends on 93% on oil. As for the short term, it is assumed to reduce expenditures and go to internal borrowing from banks and from the central bank reserves."
The member of the Parliamentary Finance explained that "borrowing from the central bank reserves comes according to conditions regulated by the law of the Central Bank of Iraq and the World Bank," noting that "the lack of regularity of these conditions will reduce the value of the Iraqi dinar."
He pointed out that "the central bank reserves exceeded seventy billion dollars", stressing that "the Iraqi government's need for two billion dollars added to oil revenues that amount to about one and a half and a half billion dollars per month to meet employee salaries and the operating budget." Ended 29 / A 43