KUJER: SALARIES ARE TEMPORARILY SECURED, AND IRAQ FACES AUSTERITY OR PRINTING MONEY
Former MP Jamal Kojar confirmed that salaries are temporarily secured, while indicating that Iraq may resort to austerity measures or printing currency in the next phase.
During his appearance on the program “On the Ruler” broadcast by Al-Furat satellite channel, Kujer said: “The dollar issue in Iraq is linked to two aspects: technical, administrative, and political.” He explained that “the currently influential aspect is the cessation of dollar shipments due to the war conditions and the disruption of air traffic, and not because of a problem with the US Federal Reserve,” noting that “no official US announcement has been issued to stop the transfer of shipments.”
He added that “the effects of the drop in oil prices will appear after three months, but the cash reserve is still better compared to previous periods,” stressing “conviction in the government’s ability to secure salaries during the next six months, given that oil revenues are received three months after the sale, with options including printing money despite the risks of inflation.”
He pointed out that “the United States is waging a solitary conflict that may have repercussions on the global economy,” indicating that “the rise in fuel prices in the American markets reflects the magnitude of the effects,” and suggesting that “it will be a limited military confrontation.”
Kujer said that “Iraq may be forced to adopt an austerity policy or resort to printing money, which requires a fully empowered government to manage the phase,” criticizing the three-year budget, describing it as “a backbreaker after it turned the planned deficit into an actual deficit that exceeded $133 billion.”
He predicted that “oil prices will continue to rise even if the war stops,” noting that “the 2026 budget may be presented in the form of a law with the possibility of adding a supplementary budget, or resorting to legislation similar to the food security law to cover emergency expenses and secure salaries.”
Regarding the National Service Law, Kujer noted that “the law is unlikely to be passed at the present time due to the lack of political consensus and clarity in its features, despite the importance of introducing it in the long term.”