Shafaq News / The Parliamentary Finance Committee considered, on Friday, that both local and external borrowing are not sufficient to finance the salaries of employees and support healthcare institutions.

Committee member Jamal Kojer told Shafaq News agency that, "15% of the borrowed money will go to lagging projects in the provinces", adding that the government needs seven trillion dinars per month to secure the salaries of employees, while oil revenues –currently- do not exceed two billion and 500 million dollars.

Kojer explained that, "The government needs realistic reforms that provide financial revenues, to secure the salaries of employees".

"The government revealed, that 40,000 employees in six ministries, earn more than one salary", Kojer said.

The Iraqi parliament approved, on Wednesday, the law draft that allows the government to resort to internal and external borrowing to cover the country's fiscal deficit.

The Iraqi government is struggling to secure employee salaries and other operating expenses due to the collapse in oil prices, which has paralyzed large sectors of the world economy. The country relies on the revenues from the sale of crude oil to finance 95% of the country's expenditures.