Economist: We have enough reserves to finance expenses for a year

Economic expert Safwan Qusay explained on Tuesday that Iraq has financial reserves sufficient to finance expenses for a year without the need for any revenues, noting that the financial situation is reassuring and there is no fear about financing salaries.

Qusay told Al-Maalouma, “The Central Bank has reserves worth $13 billion, and this number provides the ability to finance all expenses without any revenues for 360 days, while mathematical standards require the presence of amounts covering 180 days in the event of a disaster or emergency in the country.”
He added, “The government can comfortably finance all expenses for the mentioned period, and this was implemented during the period of the emergence of the Corona virus, and the recession that accompanied the global economy.”
He explained that “the financial situation is good and reassuring, and there is no fear of a shortage in liquidity or expenses, and salaries amounting to 60 trillion dinars must be transferred to stimulate economic activity and not towards imports, in order to maximize the capacity of the Iraqi economy.”

Almaalomah.me