Iraqi non-oil revenues rose to unprecedented levels compared to previous years, reaching 7.06 trillion Iraqi dinars, representing a contribution of 11 percent of the total revenues of the Iraqi state, compared to only 0.09 trillion Iraqi dinars, in the same period last year, which represented only 0.19 percent of the total revenues.
The Iraqi Ministry of Finance revealed that the volume of state revenues within the federal budget of the Iraqi state during 5 months exceeded 54 trillion dinars (about 40 billion dollars), stressing that the contribution of oil to the budget remained about 89 percent. Iraq has recently been under international pressure to increase its non-oil fiscal revenues to reduce the economy's vulnerability to oil price shocks, according to the recommendations of the International Monetary Fund, which warned that larger declines in oil prices, or the extension of OPEC+ production cuts, greatly affect the accounts of the financial Iraq.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
