Shafaq News / The Iraqi Parliamentary Finance Committee revealed, on Monday, that the government resorted to the central bank to secure the employee salaries for June.

Iraq suffers from a severe financial crisis, caused by the drop of oil prices in global markets.

Iraq, which is the second largest oil exporter in "OPEC", depends on the revenues of crude oil to finance about 95 percent of the country's expenditures.

"The government lacks the liquidity to pay the salaries of the employees and it will resort to local borrowing to secure salaries, as it did last May", committee member, Jamal kojer, told Shafaq News agency, "the government will borrow from the Central Bank of Iraq to provide financial liquidity and secure the salaries of June, which exceeds five trillion dinars".

The Parliament held, earlier, a preliminary discussion on the draft of domestic and foreign borrowing law, to finance the fiscal deficit during the current year.