Shafaq News- Baghdad

Iraq’s public finances posted a decline in early 2026, with revenues falling to just over 15.7 trillion dinars ($12B) in January and February, the Ministry of Finance showed on Monday.

Total revenues stood at 15.708 trillion dinars ($12B), down 13% from 17.427 trillion dinars ($13.3B) recorded during the same period in 2025.

Oil remained the backbone of state income, generating 13.127 trillion dinars ($10B) and accounting for 84% of total revenues. Non-oil sources contributed 2.581 trillion dinars ($2B).

The data also indicated that non-oil revenues transferred from the Kurdistan Region to the federal treasury amounted to 120 billion dinars ($91.6M) over the two-month period.

On the expenditure side, total current spending stood at 16.978 trillion dinars ($13.0B). Public sector salaries absorbed 10 trillion dinars ($7.6B), while pensions totaled 3 trillion dinars ($2.3B). Social welfare payments amounted to 912 billion dinars ($696M).