Iraq was already impoverished before the war. Any defeat of any muslim is a humiliation - especially Arab Muslims who consider themselves the Master Race - from whom AH got the notion.
So Iraq after the war was more like Germany after WII than after WWI - IMHO.
Iraq’s GDP per capita in 1990 was $11000 (half of US GDP).
The same figure for 1995 was $173 (third of Nigeria’s GDP).