During 2023.. Iraq spent 7 trillion more than its revenues, and 40% of its expenses went to salaries
During 2023.. Iraq spent 7 trillion more than its revenues, and 40% of its expenses went to salaries
02-25-2024 | 05:49
Al-Sumaria News – Economy
The Iraqi state’s accounts for the past year, 2023, revealed the volume of spending and revenues, and the distribution of spending method, as employee salaries constituted the largest volume of spending and amounted to 40%, while the industrial sector topped the investment spending file during the past year.
According to the data seen by Al-Sumaria News, Iraq spent more than 142 trillion Iraqi dinars during the past year 2023, while its revenues amounted to more than 135 trillion dinars, meaning that the deficit rate is 5%, or in other words, Iraq spent 7 trillion more than its revenues. Dinar.
Current expenditures represented 83% of total public spending, while investment spending constituted 17% of total spending, amounting to more than 24 trillion dinars.
The industrial sector topped the investment spending file at 11 trillion dinars, which constitutes 45% of total investment spending.
Employee salaries constituted the largest proportion of spending, amounting to more than 57 trillion dinars, equivalent to 40% of total spending.
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