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Saleh: The government's monetary presence is at its best
Economy News - Baghdad
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, reassured, on Tuesday, that the salaries of employees and retirees and social care are insured during the current and next years, while expressing his fear that the passage of the 2022 budget will stall.
Saleh said, "The Iraqi government's cash presence is at its best at the present time," noting that "the average price of a barrel of oil today is about $ 60, and the obligations payable have been performed on a regular basis, and the cash liquidity is high," according to "Wawa."
He added that "the budget was hedged with internal borrowing for fear of facing any shortage of liquidity," noting: "If the default price in the budget is 45 dollars and the real price is 60 dollars, there will be a difference to cover the requirements on the basis of financing the deficit by borrowing."
He added that "there are pessimistic theories that assume that there are other payments and that non-oil revenues are still low. They are taken into consideration that oil revenues are recorded in one form, and the truth is another form." The remaining% of the revenues are non-oil, but in practice this has not materialized, so there is a gap that is covered by borrowing.
He stressed that "the economic situation in general is reassuring, and there is no fear for it in light of the current circumstances," noting that "the most prominent economic challenges are the coincidence of the election date 10/10 with the date of submitting the draft of the federal budget for 2022 between the Council of Ministers, in which the approval of laws becomes disrupted and becomes The government is a business administration and between parliament, which is about to be constitutionally expired. "
He pointed out that "this matter is worrisome, and we do not know how the elections will end and how the next government and parliament will be formed," explaining that "all these matters are against the approval or delay of the budget."
Saleh stressed that "there is no fear of regular payment of salaries to employees and retirees and social care in light of the regular and high financial flow and budgetary hedging," indicating that "the situation will be comfortable until the end of the year 2022."
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