Source: Iraqi employee salaries “secure” despite “temporary” oil price fluctuations

Shafaq News / On Sunday, the Iraqi government reassured the public regarding employee salaries, confirming that they are secure, while noting that fluctuations in oil prices are "temporary."

The financial and Economic Advisor to the Prime Minister, Mudher Mohammad Saleh, told Shafaq News Agency, "There is no salary crisis in Iraq; it is simply confusion that worries citizens," assuring people that all payments related to salaries, social welfare, and food and medicine baskets are of the utmost priority.

"Fluctuations in oil prices are temporary and unpredictable; they represent passing crises for Iraq and do not affect public finance regarding the disbursement of salaries, wages, pensions, and social welfare," he added.

"Public finance prioritizes humanitarian needs above all else and has a significant humanitarian and social aspect in addition to its importance for development."

Notably, Iraq, the second-largest oil producer in OPEC, heavily relies on oil revenues. Oil prices have been on a downward trend since mid-2022, with Brent crude dropping from over $120 per barrel to around $71 in today’s trading. This decline is largely attributed to weak global demand, particularly from China, the world's largest oil importer, due to a slowdown in its economic growth.