“Markets are paralyzed”... The dollar crisis exacerbates the problems of the Kurdistan region and the anticipation of the three-month salaries - urgent[You must be registered and logged in to see this link.] |Today[You must be registered and logged in to see this image.]
Baghdad today - Sulaymaniyah
Economic expert Aram Othman confirmed today, Thursday (November 30, 2023), that the dollar crisis has exacerbated the problems of the Kurdistan region, while the markets have become “paralyzed . ”
In an interview with “Baghdad Today,” Othman said, “The dollar crisis has greater burdens on the governorates of the region than other governorates, due to the fact that the governorates of Kurdistan are suffering from very large economic crises.”
He added, "The region's markets have become almost paralyzed due to the lack of financial liquidity among citizens, and thus purchasing operations have stopped except for essential needs."
He continued, "The crisis in the region has been going on for years due to non-payment of employee salaries, as well as high tax rates," noting that "the dollar crisis came to undermine the movement of markets and make them paralyzed."
The Kurdistan region is facing a major financial crisis that makes it unable to pay the salaries of its employees, after the export of Kurdistan oil via Turkey stopped, at a time when the region looks to Baghdad as responsible for providing employee salaries and supporting Erbil with all its financial needs.
Earlier, a member of the Kurdistan Democratic Party, Wafa Muhammad Karim, confirmed that “the Kurdish government delegation that visited Baghdad last Monday demanded two things from Prime Minister Muhammad Shia’ al-Sudani.”
He added, "The first request is to implement the budget agreement and send the region's full share of the budget. The other request is to send the amount of 3 salaries remaining for the current year, which are the salaries of October, November, and December."
Karim pointed out, “The Sudanese agreed to send 700 billion dinars for each of the remaining three months of the current year, on the condition that the Council of Ministers votes on this proposal, and at most this issue will be presented to the Council in its next session next week.”
Fadi Al-Shammari, political advisor to Prime Minister Muhammad Shiaa Al-Sudani, had ruled out “the continued rise of the dollar’s exchange rate against the dinar.”
Al-Shammari said in a press statement yesterday, Wednesday, followed by “Baghdad Today,” “The dollar will not continue to rise continuously and the state is working to strengthen the dinar, and within a short period the dinar will be stronger and we will witness the collapse of the black market,” he said.