Iraq – Fears of increased deficit due to lower oil prices following Coronavirus

Baghdad – Iraq 13/03/2020

With oil prices falling dramatically in global markets due to the outbreak of the new Coronavirus and its repercussions that prompted OPEC in agreement with Russia to cut production, concerns have been raised in Iraq about the decline in expected income from the oil sector, which, according to experts, could increase the Iraqi government’s budget deficit amid a lack of planning and solutions to reduce the losses of the Iraqi economy.