The government is considering reducing staff time or the granting of compulsory leave
The government is considering reducing staff time or the granting of compulsory leave half of them to prevent bankruptcy
2015-12-29 06:43:19 | (Voice of Iraq) - Baghdad
Council of Ministers is considering a proposal by the Ministry of Finance is expected to overcome the deficit in the 2016 budget to reduce the salaries of serving staff and Daum.
He revealed a senior source in the Ministry of Finance for "tomorrow Press" "proposal to reduce staff time in half, in exchange for giving them half the salary, in the event of the fall in world oil market prices continued," noting that "Iraq budget devoid only $ 1.4 billion, which is almost fill the needs of the country until next February at the latest. "
He pointed to "the existence of two proposals to prevent financial collapse or bankruptcy, and cut costs, reduce staff is the first time on a daily Hevcat, and the second half of the staff to grant compulsory leave, compared to just give them a nominal salary."
And painted a terrifying picture of the source of the financial future of Iraq, as it said the "oil revenues declined due to lower its market price by 80% within 16 months," noting that Iraq was forced to borrow from foreign private banks to cover the deficit in the current year budget in 2015.
He added that "the Iraqi people should be aware that the country is on the verge of a real financial crisis, remember Payam want and drought in the international embargo against Iraq time, to hold the nineties of the last century," but he also said, "But this crisis will not last long, because the private sector in Iraq will rise in an unprecedented way, having all of the social classes in which to work. "
The price of oil on the world market is still between 35 and $ 38 per barrel, while Iraq sells below market five to six dollars, and paid the investment producing companies, according to the rounds of licenses, twenty dollars, at a time when the government set the budget year 2016 price Oil at $ 45.