AN ECONOMIC EXPERT TALKS ABOUT THE SHORTAGE OF “CASH LIQUIDITY” AND ITS EFFECTS ON THE BUDGET, 5 OCT

 AN ECONOMIC EXPERT TALKS ABOUT THE SHORTAGE OF “CASH LIQUIDITY” AND ITS EFFECTS ON THE BUDGET

The economic expert, Nabil Al-Marsoumi, revealed today, Tuesday, the reason for not releasing the current year’s budget exaggeration until now, despite Parliament’s vote on it early last June.

Al-Marsoumi said in a post on social media platforms, “The Iraqi currency exported, as of August 2023, amounted to about 99.769 trillion dinars, including: 8.7 trillion dinars in banks and 91.069 trillion dinars in circulation.”

He added, “The scarcity of cash in government banks may be the reason that Rafidain Bank was forced to pay only 250 billion dinars out of the first installment of the loan provided to Kurdistan, amounting to 700 billion dinars, which led to not distributing full salaries to the region’s employees.”

Al-Marsoumi pointed out that “the scarcity of cash liquidity in banks may be linked to the government’s failure to pay the internal debt service installments owed to it, and the scarcity of cash liquidity may be the most important reason for not releasing the 2023 budget amounts, which require large government spending in both the operational and investment parts.”