Aside from the new salary ladder and the confusion where political blocs are calling it illegal and not with in Abadi’s powers… Iraq is holding talks with Finland and Europe on deporting migrating Iraqi’s back to Iraq…Most of the young and scientific (educated) are the ones who have fled the country. Now why would Iraq even begin to speak about them returning when they have nothing to offer them?
There has to be a massive change coming…The talk of bringing back citizens you can’t support, the new salary cuts that has the country confused and mad as h*ll. This cannot go on for 6 months. Quite frankly I don’t believe they can make it 90 days without a rate change that explains the reasons for what appears to be insanity to the citizens.
This whole salary ladder is being talked about moving to Federal Court and challenged. Such a lawsuit brought forth will stymie all other political reforms… And Abadi will lose credibility… IMO, the BEST thing we have seen is this new salary ladder…The World Bank and IMF had comments in the past that the GOI needed to adjust the grossly overpaid salaries.
Now President Massoum will make 8 million IQD per month 8 times $862 = $6,896 a month or $82,752 a year. That is not going to work, keeping in mind he is one of the highest paid.
Drop the zeros and give the IQD a rate of $2.66 per dinar and the salary becomes $220,120.00 per year…which is the equiv to international standards…when you take all the salaries on the ladder it works out to what their in country pricing index is. So the question is…HOW LONG BEFORE THE ARE TOLD…AND IMO…The 3 zeros need to be raised with the “back wall” being the start of the New Year.
In the past years they spoke of lifting the 3 zeros and it was DELAYED…needed studied by a committee…We probably couldn’t count on 2 hands how many committees kept being formed to study the 3 zeros. Then they announced delaying from the start of the New Year to June…AND Shabibi said;
THE APPROPRIATE TIME TO LIFT THE 3 ZEROS IS AT THE START OF THE FINANCIAL YEAR AND NOT IN THE MIDDLE OF A QUARTER OR THE MIDDLE OF THE YEAR! This new salary ladder is a good sign. The delay of the investment law is a good sign.
The 2016 Budget being completed before the start of 2016 is a very good sign. And citizens not being paid and liquidity being drawn in off the streets is a good sign. IMO…Honestly, it doesn’t get any better than this as a pre-revaluation phase that sets up the revaluation.