Member of the Parliamentary Finance Committee Mustafa Al-Karaowitz revealed a large cash flow deficit and refuted the Ministry of Finance’s guarantees on employee salaries today, Thursday.
Al-Karawi remarked 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,” “Iraq is going through a major and dangerous challenge related to financial liquidity and employees’s salaries.”
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,” he said, “the Ministry of Finance does not have enough cash to finance the ministries and state institutions.” Employees are getting their pay ten days behind the planned date.
