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Economist: The government may be unable to pay social welfare salaries in 2023
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Economy News-Baghdad
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Added 12/12/2022 - 11:23 AM
Updated 12/12/2022 - 2:18 PM
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Economy News-Baghdad
Economic expert Nabil Al-Marsoumi warned, on Monday, of the Iraqi government's inability to meet social welfare salaries in conjunction with the drop in global oil prices.
Al-Marsoumi said in a post on Facebook, "The total amount of social welfare expenditures until October 2022 amounted to more than 3.3 trillion dinars," noting that "this amount increased by 32% compared to the same period last year 2021."
He added, "The ratio of social welfare expenditures to operating expenses amounted to 26%, while the ratio of social welfare expenditures to general expenditures accounted for 24%," pointing out that "the ratio of social welfare expenditures to oil revenues amounted to 16%."
Al-Marsoumi pointed out that "the expected expansion of social welfare in the 2023 budget will add new and fixed burdens to the general budget, and the government may not be able to meet it, given the current and expected decline in oil prices in the coming year."
Views 83
Added 12/12/2022 - 11:23 AM
Updated 12/12/2022 - 2:18 PM
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