Shafak News special monitoring.. 122 trillion dinars, Iraqi financial revenues in September 96% for oil

Shafak News special monitoring.. 122 trillion dinars, Iraqi financial revenues in September 96% for oil

2022-11-08 06:57

Shafak News special monitoring.. 122 trillion dinars Iraqi financial revenues in September 96 percent for oilShafaq News/ The Ministry of Finance issued the Iraqi state accounts for the month of September for the fiscal year 2022, which indicated that the volume of financial revenues amounted to more than 122 trillion dinars and a financial surplus of more than 38 trillion dinars, while it indicated that the contribution of oil to the federal budget is still 96% for the month. Sixth in a row, while an economist called for the necessity of activating the economic sectors.

Shafak News Agency followed the data and tables issued by the Ministry of Finance this November for the accounts of last September, which indicated that oil is still the main resource for Iraq’s general budget, reaching 96%, which is the same percentage for the past six months, which indicates that the rentier economy is The basis for Iraq’s general budget.

Through the financial tables, it was shown that the total oil revenues for the month of September amounted to 122 trillion and 796 billion and 502 million and 987 thousand and 111 dinars, which represents 96% of the total revenues, while the total non-oil revenues amounted to 4 trillion and 958 billion and 597 million and 101 thousand and 636 dinars, which constitute 4% of the total revenues, indicating that the total expenditures with the advances amounted to 84 trillion and 666 billion and 606 million dinars.

According to the finance table, the budget surplus for the month of September amounted to 38 trillion and 129 billion and 896 million dinars, or the equivalent of 26.115 billion dollars.

For his part, the financial expert, Hilal al-Taan, called in an interview with Shafaq News Agency to “accelerate the diversification of the Iraqi economy and get rid of the rentier economic system in light of the high budget of Iraq and the existing surplus in order to free itself from dependence on oil as a basic material in Iraq’s annual budget,” noting that “the prices of Oil is affected by economic, political and health fluctuations in the world and by violent shocks as a result of fluctuations in global demand.”

He added, “The countries of the world began to move towards manufacturing industries, as they are the most dynamic, which equips the world with more new products and without interruption,” noting that “Iraq if this money is not used now, it will waste the opportunity for progress and prosperity, and the future of future generations will be lost to misery and weakness in a world where it prevails.” Developed and powerful countries.

The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021 in an interview with Shafaq News Agency that the reasons for the survival of the economy are rentier due to wars and the imposition of siege during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources.

The continuation of the Iraqi state to rely on oil as the only source of the general budget makes Iraq at risk from the global crises that occur from time to time due to the impact of oil on it, which makes Iraq tend every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions.