Iraq’s Parliamentary Finance Committee forecasts non-oil revenues to reach +$22B in 2025

Shafaq News/ On Sunday, the Iraqi Parliamentary Finance Committee projected that non-oil revenues in the 2025 budget will amount to 30 trillion IQD ($22,915,015,122), driven by electricity collection, taxes, and revenues from the Baghdad Municipality and various municipal offices.

In a statement to Shafaq News Agency, Parliamentary Finance Committee member Mo’een Al-Kadhimi explained, "The Finance Committee held a meeting today, hosting Finance Minister Taif Sami, along with the heads of the tax and customs authorities and general directors from the Ministry of Finance, to discuss the general budget law, focusing on both oil and non-oil revenues."

"While oil revenues are already determined, the focus on non-oil revenues included activating government entities such as the electricity sector in bill collection, the Baghdad Municipality, and other municipal offices. Additionally, the discussion covered tax commissions, revenues from border crossings, customs, and other services that could increase non-oil revenue streams."

He further noted, "Although the government’s program highlighted the need to activate non-oil revenues, implementation has been lacking. By 2025, oil revenues are expected to reach 120 trillion dinars, while non-oil revenues are anticipated to be around 30 trillion dinars, including income from customs, taxes, electricity collection, and services provided by the government."