Former MP Mohammed Al-Shabaki showed today, Tuesday, that Iraq is suffering from a economic disaster, the repercussions of which have been meditated in a chain of presidency selections.
Al-Shabaki stated in an interview with dinaropinions.com, “Iraq’s monetary scenario does now not bode nicely, because all revenues come from the sale of oil and one commodity, and this usa will absolutely suffer an monetary crisis if oil and electricity costs decline,” indicating that “the financial finances for the yr 2025 could be financed by means of a full deficit in keeping with revenues amounting to 137 trillion dinars and spending of approximately 159 trillion.”
He added, “Diversifying imports is vital to overcome the modern-day crisis, and there should additionally be a political choice to streamline some spending devices and do away with economic waste etc,” indicating that “the disaster regarded genuinely while the Ministry of Finance introduced that there might be no appointments this yr and the cancellation of sending an offer to amend the worker income scale law to Parliament due to the financial duties due to it, in addition to preventing the transfer and appointment tactics because they require adding economic allocations to some ministries.”
it’s miles noteworthy that MPs showed that the government is going through monetary problems and their effect on securing employees’ salaries and disbursing them on time, even as the Ministry of Finance and the government deny this and verify that the required liquidity is to be had.
