$56.5B in revenues: Oil dominates Iraq’s budget

Shafaq News – Baghdad

Iraq’s federal budget collected more than 82.377 trillion dinars ($62.9 billion) from January to August 2025, the Ministry of Finance said on Saturday.

Official data showed that oil revenues reached 73.822 trillion dinars ($56.5 billion), accounting for 90% of total income, while non-oil revenues stood at 8.555 trillion dinars ($6.5 billion).

During the same period, current expenditures reached 73.649 trillion dinars ($56.2 billion), including 44.000 trillion dinars ($33.6 billion) in public sector salaries, 12.558 trillion dinars ($9.6 billion) for retirees’ pensions, and 3.710 trillion dinars ($2.8 billion) for social welfare payments.

Earlier, Mudhhir Mohammed Saleh, financial adviser to Prime Minister Mohammed Shia Al-Sudani, warned that Iraq’s reliance on oil leaves the country exposed to global market fluctuations and often compels the government to cover budget shortfalls through domestic or foreign borrowing.

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