Oil price crash compounds problems facing Iraq's new government | News | Al Jazeera
Is it one challenge too many for Iraq's new government to bear?
First came the political unrest. Then the coronavirus. Now an oil price crash completes a trifecta of problems that are pushing Iraq's finances and its fragile stability to the edge.
Oil accounts for 67 percent of Iraq's economy. Income from crude sales funds roughly 90 percent of its government budget. That is not a problem when oil prices are buoyant. But when they plummet, Iraq's finances are at the mercy of the markets.
And this year has been particularly merciless.
