Iraqi government affirms salary payment tools
The Iraqi government has affirmed that it possesses sufficient financial tools to ensure the payment of salaries to employees and retirees, as well as social welfare entitlements, despite current financial pressures. It will work on restructuring spending priorities, postponing some non-essential expenses, and managing liquidity to guarantee the ongoing disbursement of salaries. Officials indicated that the main challenge lies in the timing of revenue flows rather than a persistent shortage of resources, relying on increased non-oil revenues and domestic or external borrowing when necessary. They emphasized that the return of oil revenues remains the most important factor in restoring financial balance. The government also warned of the potential impact of disruptions in the Strait of Hormuz on revenues but clarified that salaries will not be halted thanks to managing reserves and reorganizing expenditures. These measures underscore the importance of diversifying economic outlets and adopting reforms to ensure long-term financial stability.
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