Basra’s partial oil recovery masks fiscal strain, as Hormuz attacks, dinar devaluation, and gas shortages squeeze salaries, subsidies, and electricity.
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Iraq’s dinar devaluation protects reserves and salary payments, but imported goods, dollar rents, and parallel rates squeeze household purchasing power.
Iraq navigated a three-month halt in physical US currency transfers without economic turmoil, signaling a major move toward modern banking systems.