Mustafa Al-Karaawi, a member of the Parliamentary Finance Committee, denied the Ministry of Finance’s assurances regarding employee salaries today, Thursday, and disclosed a significant cash liquidity shortfall.
“Iraq is going through a major and dangerous challenge related to financial liquidity and employees’ salaries,” Al-Karawi said in a statement to “the statements of the Ministry of Finance that spoke about financial luxury and the availability of cash liquidity,” which he categorically denied.
“The Ministry of Finance does not have enough cash to finance the ministries and state institutions,” he added, noting that “the drop in the price of oil by four to five dollars will increase the deficit recorded in the current year’s budget.” Employees are now receiving their salaries ten days behind the scheduled date each month.
“The state is unable to provide the necessary financial liquidity in the future, especially since the number of employees increases annually,” he remarked.
Atwan Al-Atwani, the head of the parliamentary finance committee, made serious and shocking statements that raised questions about the lack of financial liquidity and suggested that salaries would be paid later because of a lack of revenue.
