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Iraqi MoF clarifies the main reasons for the economic crisis 

Category: Economy

Date: 2022-02-21T15:25:57+0000
Iraqi MoF clarifies the main reasons for the economic crisis 

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.

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