Taxes of Currency auctions can fund the salaries, MP proposes

Shafaq News / A member of the Parliamentary Economy and Investment Committee, MP Nada Shaker Jawdat revealed today, Sunday, that she submitted a proposal to the Central Bank to impose taxes on the "currency auction", indicating that it is sufficient to fund the salaries of employees.

In an interview with Shafaq News Agency agency, Jawdat said that she "demanded on several occasions the Central Bank to impose taxes on the currency auction to benefit from this auction instead of leaving hard currency outside the country", indicating, "the taxes that will be imposed in the currency auction will be sufficient to finance The salary budget for all employees in the government departments and institutions in Iraq".

She added, "It is difficult to stop the currency auction, as this preserves the stability of the Iraqi currency and stimulates trade", noting at the same time that, "the hard currency income to Iraq as a result of selling oil out-fluxes again without benefiting from it".

Plummeting oil prices resulted in a severe financial crisis in Iraq, which depends mainly on Oil revenues in its Budget. For this reason, the Ministry of Finance was obliged to borrow money to fund the salaries of the employees for the previous months. However, the government intends to borrow again for the second time in three months, as it claims to be unable to pay the salaries for the upcoming months.