Iraq is one country seriously affected by the fall in the global price for oil. Why? Because much of the federal government’s income comes from the royalties on oil. Iraq’s output rose during 2015, passing the threshold of 4 million barrels per day in June. The fall in the price during 2015 means that the financial return has gone down. At present the government’s income is at most US$3 billion per month, which is less than the monthly expenditure of almost $4 billion per month on public sector salaries.
This is affecting the government’s ability to invest in improvements in public services. It also has consequences for its ability to expand the military forces that are engaged in fighting the self-proclaimed Islamic State (also referred to as ISIS, ISIL and Daesh). The picture is mixed here with reports that Sunnis are joining branches of Popular Mobilization Units following Prime Minister Haider al-Abadi’s authorisation that 40,000 Sunnis should be recruited. This is a step towards the Iraqi central government being more inclusive.
Let us pray that:
Many countries are affected by changes in the oil price.
Pray that governments adapt wisely and that Christians make a positive contribution to their communities and nations and take all opportunities to speak of the true peace and security found in Jesus
1. New York Times; Battered by War, Iraq now Faces Calamity from Dropping Oil Prices; 31st January 2016; www.nytimes.com/2016/02/01/world/middleeast/battered-by-war-iraq-now-faces-calamity-from-dropping-oil-prices.html (accessed 17th February 2016)
2. Al-Monitor; It’s official: Sunnis joining Iraq's Popular Mobilization Units; 14th January 2016; www.al-monitor.com/pulse/originals/2016/01/iraq-sunnis-join-shiite-popularmobilization-forces.html (accessed 18th January 2016)
3. Farid Zakaria in the Washington Post; From Iran to Nigeria, Cheap Oil Means Perilous Politics; 4th February 2016; https://www.washingtonpost.com/opinions/from-iran-to-nigeria-cheap-oil-means-perilous-politics/2016/02/04/aefcdbb8-cb76-11e5-a7b2-5a2f824b02c9_story.html
Who we are.
We are ones who want to see God move in the Near East and are praying for the people and cities in Lebanon, Jordan, Syria and Iraq.