24 Hrs
Source:
الشرق الأوسط
Baghdad Faces Challenges in Paying Salaries
Iraq currently lacks sufficient financial revenues to pay the salaries of its employees and retirees, due to the financial crisis caused by a decline in oil exports resulting from the closure of the Strait of Hormuz and the overall economic decline, in addition to poor resource management and widespread corruption. The monthly salary obligations amount to approximately 7.8 trillion dinars (around 6 billion dollars), with forecasts indicating that it will become difficult to continue paying them if the war and economic crisis persist. Experts and financial sources suggest utilizing financing tools, such as borrowing and reallocating expenditures, but Iraq suffers from a severe deficit and faces the risk of being unable to pay salaries as economic decline and corruption continue.
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