Economy News – Baghdad
The Ministry of Finance reported today that the revenue generated within the federal budget has surpassed 135 trillion dinars over the course of 11 months.
Data released by the Ministry of Finance, covering the period from January to November of the previous fiscal year, indicates that approximately 88% of the total revenue has been derived from oil. This finding reaffirms the dominance of the oil sector as the primary source of funding for the public budget, underscoring the reliance on the rentier economy.
The financial reports detail that the revenue for the eleven-month period was 135 trillion, 322 billion, 716 million, and 694 thousand dinars. Additionally, total liabilities were recorded at 17 trillion, 352 billion, 387 million, and 556 thousand dinars.
According to the financial schedules, oil revenues accounted for 119 trillion, 33 billion, 253 million, and 845 thousand dinars, representing 88% of the public budget. Conversely, non-oil revenues amounted to 16 trillion, 289 billion, 462 million, and 848 thousand dinars, which constituted 12% of Iraq’s overall budget.
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