Maliki expects collapse of economy: Iraq is going through a financial crisis

This came during a meeting between al-Maliki on Wednesday and the leader in the Patriotic Union of Kurdistan who is the official of Baghdad organization , Faryad Roandzi .

According to a statement issued by the Office of the Patriotic Union of Kurdistan , briefed by "Shafaq News", the two sides discussed during the meeting, a number of the files as the internal situation of the Patriotic Union of Kurdistan (PUK) . "

Al-Maliki stressed the need for national cohesion of the Union and to preserve its unity due to its important role in Iraq and the region and its continued support for the democratic process .

The statement added that al-Maliki expressed " his readiness to support the leadership of PUK and cooperating with them to overcome the financial crisis ."

Roandzi demanded Maliki to work on finding a solution to the crisis as soon as possible , in particular with regard to the employees' salaries.

However, the statement added that Maliki linked the solution to this crisis with oil between Baghdad and Erbil , saying, "The whole of Iraq is going through a financial crisis ."

According to the statement, al-Maliki predicted a collapse of the Iraqi economy and the financial system if the state budget won’t be approved and find radical solutions to the problem of increasing public expenditure which has become more than imports as he expected a budget deficit of more than 35 billion dollars.

Prime Minister, Nuri al-Maliki hold on Wednesday, in his weekly televised speech , the Iraqi parliament the responsibility for the delay in approving the state budget for 2014 , criticizing the approval of the paragraph devoted to retirement and privileges of the parliament and those with special grades within the Unified Retirement Law .