The Ministry of Finance announced today, Saturday, the direct launch of employee salaries for the month of June.
The ministry said in a statement that, “Under the direction of the Minister of Finance Ali Allawi, the Accounting Department has started to launch private financing for the salaries of the month of June.”
He added that “the Accounting Department has started to walk in the salary financing transactions since last Wednesday, 1/7/2020, and it continues to do so until the completion of all salary financing transactions for the month of June.”
The Parliamentary Finance Committee has stated that the road has been clear for the federal government to launch the employees ’salaries for the month of June this week, after the Presidency’s approval of the domestic and foreign borrowing law to fill the fiscal deficit for the year 2020.
The law allows the government to borrow $ 5 billion and 15 trillion dinars to pay The fiscal deficit for the year 2020.
The Iraqi Finance Minister Ali Allawi, had told the French Press Agency, on Wednesday, that the Iraqi economy may face “shocks that it will not be able to address” unless reform measures are adopted in less than a year, stressing that 40 million Iraqis will have to They are subject to a tight austerity policy that may last for two years, and expectations indicate that the Iraqi economy will face a 10 percent contraction during the year.
With one out of every five Iraqis receiving government aid, the bill becomes heavier for the country that depends on paying all its expenditures on oil sales revenue.