Iraq finance minister seeks parliamentary session on fiscal crisis

BAGHDAD, Iraq — Iraq's Finance Minister Falah Sari has formally requested to address parliament on the country's fiscal and economic situation at the earliest possible session, the ministry said Monday. The ministry said the request was aimed at informing lawmakers about the financial realities the country faces and the steps being taken to meet core state obligations. Government spokesman Haydar Ubaydi said Iraq is contending with severe financial pressure, requiring around 10.8 trillion dinars per month to cover public-sector salaries and general spending, while oil revenues amount to only 2.5 trillion dinars. He said the shortfall has disrupted the salary payment schedule, with salaries now being disbursed later than in previous months. Health Minister Abdulhussein al-Musawi said the government's priority under the cash squeeze is paying salaries, leaving state pharmaceutical procurement firm Kimadia able to access only about 15 percent of its budget. He said that shortfall has halted new contracts and created supply risks for essential medicines. No further details on the timing of the parliamentary session were immediately available.