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Samson: The World Bank: More than 5 million new Iraqis are below the poverty line due to the dual crisis

16th November 2020

The World Bank revealed that the double crisis represented by the drop in oil prices and the epidemic, as well as the increasing government deficit, will push several million more Iraqis to join the class of those below the poverty line

A World Bank report seen by “Al-Eqtisad News” clarified that millions of new Iraqis will join the previous number of pre-crisis poor, which numbered about 10 million poor, calling on the Iraqi government to introduce urgent economic reforms

The report added, that estimates indicate that poverty in Iraq will increase in the short term by 7 to 14 percent, and this means that between 5 million to 7 million Iraqis will become among the new poor because of the dual crisis

Indicating that the brunt of the economic crisis will affect the family’s ability to withstand it, and many families may lose the bulk of their income or all of them, especially those working in the private sector, which will force them to exhaust any little savings and use negative coping strategies  LINK