Iraqi MoF clarifies the main reasons for the economic crisis
2022-02-21T15:25:57+00:00
Shafaq News / The Iraqi Ministry of Finance clarified today the reasons for the economic and financial crisis the country is going through.
The ministry said in a statement that oil currently represents 96% of Iraq's total exports, noting that their revenues are 92% of the total budget.
It added that in 2005, the public sector employees' salaries represented 20% of the total oil revenues. However, they have reached 120% today.
It noted that the country's population climbed by 53%, from 23.6 million in 2004 to 40.2 million in 2020.
