Iraq’s reliance on oil revenues fell to 84% in five months
Official data from the Iraqi Ministry of Finance, released on Monday, showed that the contribution of oil revenues to financing the federal budget during the first five months of 2026 fell to 84%, compared to 91% during the same period in 2025, while the contribution of non-oil revenues rose to 16%. IraqPolitics News
According to the ministry’s report, which was reviewed by Shafaq News Agency, the total revenues of the federal budget until the end of May 2026 amounted to about 33.747 trillion dinars, compared to 46.157 trillion dinars during the same period of 2025, a decrease of 12.410 trillion dinars, and a decline rate of about 26.9%.
Oil and mineral revenues amounted to 26.946 trillion dinars by the end of May 2026, compared to 41.931 trillion dinars in the same period last year, a decrease of 14.985 trillion dinars, or about 35.7%.
In contrast, non-oil revenues rose to 6.477 trillion dinars, compared to 4.226 trillion dinars in the same period of 2025, an increase of 2.251 trillion dinars, and a growth rate of about 53.3%, raising its contribution to total revenues from 9% to 16%.
The data showed an improvement in most non-oil revenue sources, as taxes on income and wealth increased from 574 billion dinars to 635.6 billion dinars, commodity taxes and production fees increased from 1.028 trillion dinars to 1.440 trillion dinars, fees increased from 434 billion dinars to 486.6 billion dinars, while the budget’s share of public sector profits increased from 660 billion dinars to 1.242 trillion dinars.
The report indicated that total oil revenues for 2026 amounted to 27.270 trillion dinars, including 2.090 trillion dinars representing oil revenues delivered from the Kurdistan Region to the state treasury after accounting adjustments.
The comparison between the two years shows that the decline in total revenues is mainly due to the decline in oil revenues, while the remarkable growth in non-oil revenues contributed to raising their contribution to the budget resources, with oil revenues continuing as the main source of financing the public treasury.
Shafaq.com