2024-02-21T08:55:48+00:00
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/ An informed source considered, on Wednesday, the announcement by the Iraqi Ministry of Finance to finance salaries for employees and workers in the public sector and to commit to distributing them according to the monthly schedule approved by it as “misleading” to the citizen, attributing the reason for this to the lack of sufficient financial liquidity due to the decline in dollar payments by the US Federal Reserve.
The source told Agency, “The distribution of salaries was according to official schedules and timings for each ministry every month. However, during this period, the disbursement process exceeds days and weeks due to the lack of financial liquidity and the decline in funding sources from the US Federal Reserve.”
He explained that “the lack of dollar payments arriving in Iraq causes delays in the disbursement and distribution of salaries, in addition to affecting the economic situation in the country as well.”
The Ministry of Oil provides the Central Bank of Iraq with monthly financial revenues from crude oil exports in US dollars, which the bank in turn sells in the market in local currency, and then transfers them to the Federal Ministry of Finance to finance the monthly salaries of state employees, members of the security forces, those receiving retirement, and those covered by the social welfare network.
Yesterday, Tuesday, Prime Minister Mohammed Shia al-Sudani stated in a press conference that despite the lack of financial liquidity, he had taken decisions to increase allocations for minimum salaries, stressing that decisions regarding the salary scale would be amended at a later time.
The Iraqi Ministry of Finance announced yesterday, Tuesday, the start of procedures to finance the salaries of state employees and members of the security forces for the current month of February.
In a statement, the ministry called on spending units in ministries, governorates and entities not affiliated with a ministry to review the Accounting Department to complete the requirements for financing the salaries of its employees and members, taking into account adherence to the monthly financing schedule approved by it.