Iraq suffers $60B loss since US-Iran conflict
A report indicates that Iraq has incurred losses estimated at $60 billion since the start of the American-Israeli war against Iran, due to a decline in its oil revenues resulting from disruptions in navigation through the Strait of Hormuz. These crises led to a decrease in oil exports, which accounted for 90% of the country's revenues, and caused foreign exchange reserves to drop by approximately $20 billion. Iraq also experienced a decline in oil production and an increase in the exchange rate of the dollar against the dinar, raising fears of rising prices due to the country's heavy dependence on imports. The government is working to diversify the economy and increase non-oil revenues, focusing on currency and economic stability amid regional and international crises.
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