Iraq’s financial revenues exceed 106 trillion dinars within 10 months, and an expert comments

Iraq’s financial revenues exceed 106 trillion dinars within 10 months, and an expert comments

2023-12-18 00:50

Iraqs financial revenues exceed 106 trillion dinars within 10 months and an expert commentsTwilight News/ The Ministry of Finance revealed, on Monday, that the size of Iraqi revenues in the budget In ten months, the Federal Reserve exceeded 106 trillion dinars, confirming the high contribution of oil in the budget to 95%, while an economist warned that the country would continue to rely on… Oil in its general budget.

She continued Shafaq News Agency Data and tables issued by the Ministry of Finance in December This December, the ten-month accounts for the current fiscal year showed that oil… It still represents the main resource for Iraq’s general budget, reaching 95%, which indicates that The rentier economy is the basis of the country’s general budget.

She pointed out Financial tables indicate that total revenues up to last October amounted to 106 trillion and 843 billion and 96 million and 310 thousand and 311 dinars, after excluding Transfer revenues amounting to 1 trillion 676 billion 486 million 640 thousand dinars, indicating that the total expenditures with advances amounted to 84 trillion and 454 billion and 214 One million and 761 thousand dinars.

And according to Financial tables: Oil revenues amounted to 101 trillion and 940 billion and 1 million and 380 One thousand dinars, which constitutes 95% of the general budget, while revenues amounted to nothing Oil 5 trillion 477 billion 559 One million and 979 thousand dinars.

In turn, In an interview with Shafaq News Agency, economic expert Muhammad Al-Hassani warned of “the continuation of… Iraq relies on oil as its sole source His general budget,” considering that “oil prices are subject to fluctuations “global”.

He pointed out Until “oil prices fell from $90 to $70 per barrel, and thus “It affected Iraq’s general budget.”

He added “Iraq was unable to develop other economic sectors despite the savings “Financial,” noting that “these savings were used for expenditures Operational without investment.

And it was Adviser to the Prime Minister on Finance, Mazhar Mohamed Saleh, confirmed in March 2021 In an interview with Shafaq News Agency, the reasons for the economy remaining rentier are due to wars The economic blockade imposed on Iraq during the past era and what we are witnessing today Political conflicts led to the dispersion of economic resources.

And longer The Iraqi state’s continued reliance on oil as the sole source of the general budget makes Iraq is in danger from the global crises that occur from time to time because oil is affected by them. Which makes the country turn every time to cover the deficit by borrowing from abroad or inside Thus, it indicates the inability to manage state funds effectively, and the inability to find… Alternative financing solutions.