30 Trillion Dinars to Increase the Salaries of Employees and Retirees

Detect the Central Bank of Iraq, that two thirds of the increase expected to occur on the budget next year, will be allocated to increase the salaries of employees and retirees as well as increase the number of grades, indicating that the IMF will support this budget, a soft loan estimated at seven billion dollars.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh in a statement received for the “Twilight News” that “the roof of the amount of budget year 2012 of about 130 trillion dinars, subject to increase or decrease according to the decisions of the Cabinet and Parliament.”

The total current year budget approved by the Council of Ministers on February 6, 2011 amounted to 96.6 trillion dinars, distributed between 66.6 trillion dinars for the operating budget and 30 trillion dinars as investment budget.

Saleh added that “there is an increase estimated at 30 trillion dinars for the current year budget,” noting that “two thirds of this increase will be to support and improve the grades as well as increased salaries and pensions.”

According to Saleh said that “Iraq had signed a loan agreement backing with the International Monetary Fund during the month of February of the year 2010 include the provision of support to him to raise the balance of payments and improve its economic situation and reform its financial system,” explaining that the box “made in the light of this Convention, a soft loan to Iraq value of close to seven billion dollars in an interest rate not to exceed one percent to pay within five years.

The Deputy Governor of the Central Bank, the Bank granted to the government earlier this year, $ 1.5 billion of that loan to support the budget year 2011, while the remaining amount will be delivered during the next year to add to the budget and support aspects of the investment.

The claims have escalated since the period to increase the salaries of retirees and lower grade employees because of the low salaries that do not fit with the increasing prices and rising inflation.