Iraq budget data: Expenditure jumps, revenues decline, deficit increases
Iraq budget data: Expenditure jumps, revenues decline, deficit increases
2025/03/08
Financial data showed that Iraq’s total revenues for the period until the end of November 2024 amounted to 135.3 trillion dinars, compared to expenditures of 136.4 trillion dinars, recording a financial deficit of 1.1 trillion dinars.
Comparing the figures with the same period in 2023, oil revenues increased from 111.3 trillion dinars to 117 trillion dinars in 2024, while tax and customs revenues increased from 5.2 trillion to 7 trillion dinars, and other revenues from 4.6 trillion to 11 trillion dinars.
However, expenditures rose at a faster pace than revenues, reaching 136.4 trillion dinars in 2024 compared to 109.7 trillion dinars in 2023, moving Iraq from a financial surplus of 11.5 trillion dinars in 2023 to a deficit during the current year.
Compared to 2022, oil revenues witnessed a significant decline from 142 trillion dinars to 117 trillion dinars in 2024, while tax and customs revenues increased from 3.5 trillion to 7 trillion dinars, and other revenues from 4 trillion to 11 trillion dinars.
Expenditures in 2022 amounted to about 89.7 trillion dinars, recording a surplus of 59.8 trillion dinars.
The data shows a gradual decline in the financial surplus from 59.8 trillion dinars in 2022 to 11.5 trillion dinars in 2023, then turning into a deficit of 1.1 trillion dinars in 2024, with annual expenditures continuing to rise at a rate that exceeds revenue growth.
alforatnews.iq
