Let us have a THINK
On a good month the GOI will sell $7.5B in oil . We know that is at least 95% of the total income for the month. Pretty much tied to the price of oil.
The lowest grade Iraqi civil servant is paid 500,000 Iqd for the month that is about 430 USD. Abadi stated in an interview last year that the total operating cost of the GOI ( salaries and pensions ) was 4.5T Iqd ( about 3,7B USD) .
NOW if there would be a one cent RV ( X10 increase ) The cost to the GOI would be increased to 45T Iqd
Back to having a THINK!
IF an overnight RV of $0.10 would be a benefit to Iraq WHY havent they done it ? They wont because simple math should show that The economy could not take the shock. Everything Iraq imports must be paid in hard currency. (dollars, euros).Th e prices would have to increase 100X or importers would be out of business in a day.. The CBI reserves would also be depleted. No matter what they do internally the oil revenue dollars would be the same amount. The GDP in dol
