Will the central bank’s funds be sufficient to cover salaries? An economist explains.
Will the central bank’s funds be sufficient to cover salaries? An economist explains.
8-9-2026
Information/Baghdad…
Economic expert Safwan Qusay clarified the Central Bank’s ability to secure salaries for the upcoming period given the current circumstances.
Qusay told Al-Maalouma, “Iraq exports oil to the Turkish port of Ceyhan and 120,000 barrels per day via tankers to Banias in Syria, in addition to exports through the south towards the Strait of Hormuz, which approached 42 million barrels last July.”
He added, “Iraq succeeded in generating up to $3 billion from these exports, but this amount is insufficient to cover salaries, pensions, social welfare, and the food basket. Therefore, the Ministry of Finance resorts to allocating funds from other budget items to support expenditures.”
He explained that “the government has turned to domestic borrowing through the Central Bank, which possesses sufficient liquidity to meet the Ministry of Finance’s requests until the end of the current year,” noting “the importance of maximizing revenue collection, which gives the Ministry of Finance an opportunity to rely on non-oil revenues.”
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