Economic

Iraq’s economy battered by Islamic State war, low oil prices

“Since early 2014, Iraq has suffered a serious economic decline after the Shiite-led government in Baghdad started losing territory to the Sunni militants of the Islamic State group. Low oil prices exacerbated the decline, wreaking havoc on Iraq’s national budget, of which oil revenue makes nearly 95 percent.”

Source: Iraq’s economy battered by Islamic State war, low oil prices

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