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Parliamentary Finance: The government has guaranteed the liquidity of salaries and there is no crisis as long as oil is above $70
- Time: 2024/09/25 08:31:09
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{Economic: Al Furat News} The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that the government has guaranteed the liquidity of salaries.
MP Jamal Kojer, a member of the Parliamentary Finance Committee, said in a press statement that "oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall below $70."
He stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."
Kojer continued, saying: "According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year." He pointed
out that "the majority of the 2023 budget has already been spent, with 9 trillion dinars spent two months ago, while the 2024 budget has not yet been spent due to changes in governors and attempts to introduce new projects."
The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects."
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{Economic: Al Furat News} The Parliamentary Finance Committee downplayed concerns about the decline in oil prices on the economic reality, stressing that the government has guaranteed the liquidity of salaries.
MP Jamal Kojer, a member of the Parliamentary Finance Committee, said in a press statement that "oil prices have not fallen to worrying levels, and therefore we are now in a stable economic situation with a financial surplus, and therefore we cannot talk about a crisis unless oil prices fall below $70."
He stressed that "Iraq has gone through many economic and oil crises in the past, but the financial situation has remained stable and there is no fear of a current crisis."
Kojer continued, saying: "According to the Financial Management Law, the 2024 budget was supposed to be submitted after the middle of October, but there is still a delay in the expected schedules, which may be submitted in the first quarter of next year." He pointed
out that "the majority of the 2023 budget has already been spent, with 9 trillion dinars spent two months ago, while the 2024 budget has not yet been spent due to changes in governors and attempts to introduce new projects."
The member of the Finance Committee added, "As for liquidity, the government has guaranteed the liquidity of salaries, but there is a shortage in the liquidity of projects. However, the projects that have been started will continue, including bridge projects."
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