Oil Maintains Weekly Gains As Trade Talks Awaited
Economy | 09/06/2025 Mawazine News – Follow-up Oil prices held onto last week’s gains in early trading on Monday as investors awaited US-China trade talks in London later in the day.
By 00:08 GMT, Brent crude futures were steady at $66.47 a barrel. US West Texas Intermediate crude was trading 1 cent higher at $64.59.
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Prospects of a US-China trade deal supported prices, as three of Donald Trump’s top aides are scheduled to meet with their counterparts in London on Monday for the first meeting of the US-China economic and trade consultation mechanism. https://www.mawazin.net/Details.aspx?jimare=262320
From 40 To 60 Trillion… The Hemorrhage Of Salaries Without Reforms Puts The Iraqi Economy On The Brink Of Danger.
Economy 3-06-2025, | Baghdad Today – Baghdad Economic expert Munir Al-Obaidi confirmed on Tuesday (June 3, 2025) that
Iraqi government salaries increased by 27% in 2024,
breaking the 60 trillion Iraqi dinar barrier for the first time,
representing 40% of the Iraqi government’s expenditures.
Al-Obaidi said in a post on his Facebook page, followed by Baghdad Today, that
“salaries have reached dangerous levels that will have a catastrophic impact on Iraq’s economic situation.” He explained that
in 2019, the value of government salaries was 40 trillion dinars, while
in 2024, it reached approximately 60 trillion dinars. He pointed out that
“the value of salaries has increased by 50% over the past five years,
without any significant addition to
non-oil revenues or
improvement in services provided,” asking,
“What is the benefit of increasing the value of the salary bill?”
For years, economic circles have been calling for radical reforms that include
restructuring government jobs,
reducing administrative laxity, and
activating the private sector.
However, these proposals continue to face political and social resistance,
given that millions of Iraqis depend on government salaries as their primary source of income.
Government salaries in Iraq pose one of the most significant challenges to fiscal policy, as the state relies almost entirely on oil revenues to finance its expenditures, most notably salaries.
For years, warnings have been escalating about the inflation of this item without structural reforms or diversification of sources of income. https://baghdadtoday.news/275578-40-60.html
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