The assumption: Iraq’s oil revenues would eventually give Baghdad the financial muscle to dramatically revalue its currency upward. Today, that assumption is under more stress than ever…The Iraqi government may soon be unable to meet its own payroll. More than 40% of Iraq’s workforce is employed in the public sector or state-owned enterprises, which consumed 59% of all federal government expenditures…In 2023 alone, the federal government added more than 800,000 people to the public payroll, either hiring them…or enrolling them in social benefits programs. Iraq is pulling the same play the Biden administration did. They are keeping the employment numbers up through hiring massive…government workers. This does not signal a strong/ recovering government…They look prosperous yet are nearing bankruptcy. Fnu Lnu :
