Al-Abadi: We will face a problem with paying salaries next month, and printing currency is one of the options
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Economy News _ Baghdad
The head of the victory coalition, Haider al-Abadi, confirmed on Tuesday that the government will face a problem in paying salaries during the next month, and while he indicated that Iraq is facing a real problem, he pointed out that printing the currency is one of the options of Mustafa Al-Kazemi’s government.
"We are facing a real problem and we need approximately 4 billion dollars a month to cover the salaries and retirement expenses, and the salaries of the new recruits have not been covered," Al-Abadi said in a televised interview followed by the "Economy News", indicating that "Iraq's revenue for the past month is less than $ 1.5 billion, which means There is a large deficit in the insurance of salaries, and there are other things, such as the ration card and the second operational matters.
He added that "the previous government was unable to pay salaries in the first month of the crisis and we may face a crisis during the next month." He pointed out that "I am not against borrowing, but I am against political borrowing in the sense of borrowing in order to pay a month to solve the crisis only and leave what is possible after that." .
He added that "Turkey and Iran are heading to float their currency now and floating the currency produces inflation and raises prices that harm the low-income as well as printing the currency one of the options of the current government with reducing spending", noting that "reducing the value of the Iraqi dinar raises the price of imported goods and supports the local product and thus we encourage the local industry."