Baghdad: The financial advisor to the Prime Minister confirmed that 40 million citizens benefit from state salaries, which require 7.7 trillion dinars monthly to cover.

According to Iraqi News Agency, the advisor revealed that between 12 and 14 trillion dinars have been borrowed since the beginning of the crisis and denied any banking transactions with Iran. Saleh told the ‘Al-Muhayid’ show, broadcast by Al-Iraqiya News, that Iraq ranks fourth in the world regarding state intervention in economic activity due to its rentier nature. He emphasized that the government payroll amounts to 7.7 trillion Iraqi dinars per month and securing it is mandatory.

He explained that 10 million citizens receive salaries, including employees, retirees, and social protection recipients. Every salary paid by the state supports and impacts four family members or beneficiaries, leading to approximately 40 million Iraqi citizens benefiting from state salaries.

Regarding the budget, Saleh noted that the price of a barrel of oil in the budget will be between $50 and $60, with a focus on electricity. He mentioned that there is no current decision to adjust the exchange rate. Iraqi oil production exceeds 3 million barrels per day, with 1 million barrels going to refineries and more than 2 million barrels allocated for export and storage. He pointed out that Iraq’s exports have been stable for the past 10 days at around 1.5 million barrels per day.

On energy and trade with Iran, the financial advisor stated that Iraq imports 18 million cubic meters of Iranian gas, supporting the national grid with 4,500 megawatts. He clarified that there are no electronic payment transactions with Iran, no banking relations between the two countries, and no dollar transactions have occurred since 2011.

He continued to explain that US sanctions on Iran do not affect the import of vegetables and foodstuffs, provided that payment is not made in dollars. He revealed that Iraq’s foreign currency reserves amount to $78 billion. While there is currently no external borrowing to support the budget, he mentioned a potential need for it at a low cost and with a long repayment period.

The financial advisor highlighted that the total amount borrowed domestically by the state during the crisis ranges between 12 and 14 trillion dinars.