The Ministry of Finance is considering three options to overcome the employee salary crisis.
Former member of the parliamentary finance committee, Sherwan Mirza, revealed on Monday that the Ministry of Finance has begun studying three scenarios to get out of the liquidity crisis, foremost among them being external borrowing, printing currency, or recovering the cash mass, which amounts to about 90 billion dollars.
Mirza explained to Al-Maalomah News Agency that “the government, represented by the Ministry of Finance, is trying to address the financial problem through several scenarios, foremost among them being the move towards external borrowing, as well as recovering the cash mass held by citizens and companies, which is estimated at $90 billion, and also finding alternatives for exporting Iraqi oil.”
The former representative for Sulaimaniyah Governorate in the Kurdistan Region called on the government to bolster and prioritize non-oil revenues during this period as part of overcoming the current economic crisis.
Almaalomah.me