Al-Kazemi’s advisor announces the intention to prepare a new salary scale and reveals the value of the deductions from employee allowances
Al-Kazemi’s advisor announces the intention to prepare a new salary scale and reveals the value of the deductions from employee allowances
6/09/2020 22:13
Baghdad today – Baghdad
The appearance of Mohammed Saleh, the financial advisor to the Prime Minister, Mustafa Al-Kazemi, Monday (8 June 2020) revealed a new salary scale that will be presented within three to four months, while he revealed a surprise regarding the auction of currency selling, which is valued at the Central Bank of Iraq.
“We have lost two thirds of the value of a barrel of Iraqi oil since the end of last year,” Saleh said during his hosting of the program (Shortest Roads) presented by Al-Sharqiya News Channel. Welfare, social, drug purchase and payment of internal and external debt services. ”
He pointed out that “the Iraqi economy depends on oil, which depends on global supply and demand,” noting that “Iraq exports 2.4 million barrels per day, and what came to us as a sales value for the month of May in the current June is only 2.4 billion dollars.”
He warned that “in light of that, the monthly deficit reached 4.5 trillion dinars,” adding that “the government is able to send a proposed budget before the date set on June 30, but what will be sent will be burdened.”
And he added, “The cost of extracting oil is $ 10.5 in Iraq, and we pay a billion dollars on the cost of extracting oil for oil companies from the central and southern fields, and this is one of the days when the barrel of oil was worth more than $ 60.”
He continued, “Foreign oil companies take their financial dues as crude oil from Iraq’s share of oil exports.”
He continued, “There are consultations with the oil companies to reduce the percentage granted to oil companies for the value of each barrel of oil produced, in the coming term there will be an agreement.”
He went on to say, “The OPEC + agreement was negotiated by the former oil minister and he said that it was imperative to prevent its collapse.”
He also talked about government reforms intended to address the fiscal deficit and said that “the reforms proposed by the government include addressing double pay”, noting that “no financial allocations can be canceled for any lawful category.”
And he added, “The Cabinet is moving to prepare a new salary scale that can be sent to Parliament for approval within 3-4 months.”
He stressed, “There is no government tendency to deduct the salary allocations by 50%. This is a proposal that has been modified. The deduction has been limited to 10%, and implementation will start this month if approved.”
And that “there is a financial space for Iraq to borrow internally, externally and internally, because it will be from the government through banks.”
While he pointed out that “we have a deficit of 4 trillion dinars per month,” he pointed out that “the salaries of last month were arranged from oil revenues and non-oil revenues and from the agreement agreement with China and some open credits.”
And on financing the salaries of this month, he explained that it “will be funded through 2 trillion from the Iraqi Commercial Bank, and the rest will be funded through the Rafidain and Rashid banks.”
He concluded by saying, “The World Bank has indicated its willingness to lend to Iraq and it wants reforms in exchange for support.”
And he talked about the auction of selling foreign currency by saying that “the auction that the central bank undertook, after the change in 2003, committed itself to selling the dollar to control the exchange rate of the dinar or the dollar, and it was supposed to stop after two years of its launch. The central bank finances trade in Iraq because private sector banks cannot To do this, the Rafidain and Rashid banks were supposed to buy the dollar from the central bank, but they were unable to do the job. ”
He also touched on the value of what is spent on some basic services without revenue in return, saying, “It is unreasonable to receive imports worth 50 billion dollars while entering annually from customs is only one billion dollars and we lose 3 trillion dinars because of it, and the Ministry of Electricity is spending 14 billion dollars to develop it while the corresponding income Not to exceed 600 million dollars. ”
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