The most important reasons are salaries and population.. Finance explains the causes of the financial crisis in Iraq
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The ministry said in an illustrative chart of the financial crisis that Iraq is suffering from, which was seen by Shafak News Agency; Dependence on oil amounts to 96 percent of Iraq's general exports, and these oil exports constitute 92 percent of the total public budget.
She added that the salaries of public sector employees rose from 20 percent of oil revenues in 2005 to 120 percent at present.
She pointed out that demographic pressures also witnessed pressures on the Iraqi economy, as the Iraqi population increased by 53 percent from 23.6 million people in 2004 to 40.2 million people in 2020.
She pointed out that the decline in labor productivity in Iraq during the past decades, and by 2018, reached a quarter of the level of 1979.
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