Iraqi parliament aims to cut provincial councils and presidential costs

Iraq is facing a severe financial crisis that has led to delays in paying public sector employees' salaries. Monthly salary obligations amount to approximately 7.8 trillion dinars (around 6 billion dollars), while oil revenues have significantly decreased due to the closure of the Strait of Hormuz. This has resulted in Iraq losing about 2.3 billion dollars in oil revenues in May and June. In an effort to confront the crisis, the parliament proposes freezing the operations of local councils across all provinces except the Kurdistan Region, and reducing expenses for the three presidencies, which account for roughly 11.5% of the total government salaries, in order to lighten the financial burden. The plan also includes cutting the salaries of the presidencies and top officials due to the weak budget and the difficulty of paying salaries. Iraq has been experiencing severe financial challenges since the government announced that revenues no longer cover salary expenses and general obligations, and it is expected that the crisis will continue in the coming months.

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