Iraq spends 40 billion dollars annually as monthly salaries for employees

, noting that the government would be unable to borrow from CBI if needed to compensate for the financial shortfall .

The Parliament has ended yesterday its first session to read the federal budget despite a boycott by members of parliament from Kurdistan Alliance and Motahedoun “united " led by Parliament Speaker , Osama al-Nujaifi.

"The government cannot borrow from CBI as a result of the Bank Act No. 56 of 2004 which prohibits borrowing ," adding that "if there was a need to borrow then an amendment should be taken by the parliament to the Bank Act,” Mohammed told “Shafaq News “.

He added that “the total annual f salaries was up to about 40 billion dinars , with the emergence of an actual deficit worth up about 30 Trillion dinars , which was supposed to be a moderate deficit ."

He added that “the emergence of a deficit at the beginning of the fiscal year shows that there is a higher ceiling of expenses that are not compatible with the revenue.”

The budget issue has sparked significant differences between the political forces in the parliament , in particular between the State of Law coalition led by Prime Minister , Nuri al-Maliki and Kurdistan Alliance , which accuses Baghdad of taking the region's share of the budget and conditioned to meet its demands to attend meetings of approving the budget .