Due to lack of liquidity ... Finance announces once again the suspension of employee salaries!

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Due to lack of liquidity ... Finance announces once again the suspension of employee salaries!

https://alahadnews.net/119758/العراق/

Author: AhadNA4 On 10/12/2020 - 5:19 PM 68

An informed source revealed, on Monday, that the Iraqi Ministry of Finance had stopped paying employees' salaries, a few days after the launch of salaries late last September.

The source said: The Finance has informed banks to stop paying salaries due to the lack of the necessary cash on the one hand, and pending the parliament's vote on the lending law.

And he indicated that banks have released salaries to most ministries, and the rest of them belong to departments of different ministries and some independent bodies.

It is customary to pay the salaries of employees, starting from the 15th of each month and until the 26th of the same month, but last September, the salaries of government employees were late for the first time, due to the financial crisis.

And the Iraqi Finance has previously confirmed that the financial pressure in the country will continue in the foreseeable future, as the country's main source of income from oil exports will be constantly affected by the global decline in demand and the massive outbreak of the Coronavirus.

And last September, the total financial revenues from the sale of oil amounted to 3.1 billion dollars, while Iraq needs 5 billion dollars to cover the salaries of 4.5 million state employees.

And Iraq, the second largest producer of crude in the "OPEC" after Saudi Arabia, has a daily average of 4.6 million barrels in normal conditions, and relies on crude to provide more than 90 percent of its revenues