A Minister expects "severe" financial crisis to start in Iraq next month
28 October 2015

Shafaq News / The Iraqi Minister of Transportation , Baqir al-Zubaidi expected on Wednesday that a severe financial crisis will start in the country next month, while attributed it to the continued decline in oil prices and the war against ISIS terrorist organization.

Al-Zubaidi wrote on the social networking pages , seen by Shafaq News, that "The continuing fall in oil prices by 60% with the continuation of the war on ISIS costs requires objective measures of austerity not less than 60%."

He said that with respect to investment and operational assignments and the absence of these objective measures in the legislative and executive branches would put the government in a deficit position for the payment of the necessary supplies, including the necessary salaries, such as health , the ration card , a network of social welfare and operational assignments, adding, "I expect a severe financial crisis next month."

Iraqi Prime Minister , Haider al-Abadi did not hide yesterday during a meeting with a number of university professors , the seriousness of the financial situation in the country due to the continuing fall in oil prices to its lowest levels.