Current oil prices sufficient to cover employee’s salaries: Iraq

Shafaq News / Member of the Finance Committee of the Iraqi Parliament, Mahasin Hamdan pledged, on Thursday, to reduce the austerity measures that the Iraqi government had recently taken by the increase oil prices.

“High oil prices will reduce austerity measures and solve many problems, foremost of which is the provision of employee salaries", stressing that "high oil prices will stop external borrowing as the parliament cannot approve these measures with high oil prices ,” Hamdan told Shafaq News Agency.

"The oil price situation so far is good and continues to rise, this is a good thing for Iraq to face the financial and economic crisis, so the current oil prices can provide the salaries of employees, without the need for external loans,” she added.

OPEC + has recently agreed to extend the agreement to withdraw about 10 percent of global supplies from the market for a third month until the end of July, after the extension.