Since the oil prices dropped as a result of the coronavirus pandemic, issues regarding Iraq's financial obligations have begun to escalate, in light of the complete dependence on oil revenues to pay salaries and activate the economy. Making matters worse is Iraq’s commitment to reduce its share of oil exports within the April OPEC agreement.
In light of the expected salary deductions by the government, and the current financial crisis that has led to a delay in paying salaries in the majority of government departments, tenants are beginning to experience an emerging crisis, not only for commercial shops and institutions but for residential housing as well.