Sandy Ingram
Iraq faces 2025 fiscal squeeze ...as declining oil prices put immense pressure on the nation's budget which has been heavily dependent on oil revenues for decades.
The International Monetary Fund has recently issued a stark warning to Iraq cautioning the government's 2025 budget projections may be overly optimistic leaving the country vulnerable if oil prices continue to slide...
The Iraqi government has budgeted for crude oil prices to remain stable around $85 per barrel but the global market has seen a recent dip with prices hovering closer to $70 per barrel...Without a substantial increase in non-oil revenue the country may face a fiscal squeeze in 2025...
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