Iraq – Low oil revenues constitute a major crisis for exporting countries

Erbil – Iraq 16/05/2020

The health crisis and global political conflicts led to a remarkable drop in oil prices, which negatively affected the global economy in general and the oil exporting countries in particular, as is the case with Iraq, whose revenues have fallen to less than half during the past three months Experts said that this decrease will be reflected on the programs and plans of the next Iraqi government, as it will not be able to implement capital projects that would raise the standard of living of the citizen and reduce unemployment rates.On the other hand, analysts said that the low fuel prices had a positive impact on the local market in the provinces of the Kurdistan Region of Iraq, due to the low cost of transporting the necessary and nutritional materials of fruits and vegetables in the country.