Prime Minister Ali Al-Zaidi said Thursday that the government had managed to overcome major financial and economic pressures while maintaining regular salary payments, stressing that the previous gap in the dollar exchange rate had benefited currency speculators.
Speaking before Parliament, Al-Zaidi said public debt had exceeded 208 trillion Iraqi dinars when he took office, while the government needed to secure around 10 trillion dinars every month. He said the government had faced three options: compulsory savings, delayed salary payments, or additional borrowing, ultimately choosing to maintain salary payments.
He noted that Iraq’s economy had faced exceptional circumstances following the halt in oil exports and the closure of the Strait of Hormuz, while stressing that work was continuing on a project to provide one million residential plots and establish new cities.
Al-Zaidi added that foundation stones for new housing projects in Karbala, Najaf and Nineveh would be laid on Saturday, while payments owed to farmers and contractors are expected to increase next month.
