IMF reports non-oil government revenues in Iraq at 4.7% of GDP in 2022

Shafaq News / The International Monetary Fund (IMF) announced on Sunday that non-oil government revenues in Iraq accounted for 4.7% of the country's gross domestic product (GDP) in 2022.

According to a table released by the IMF and reviewed by Shafaq News Agency, "Iraqi non-oil government revenues constituted 4.7% of GDP in 2022." The table further highlighted that "these revenues increased from 4.4% in 2020 but decreased from 8% in 2021. Furthermore, between 1990 and 2000, non-oil government revenues averaged 5.5%."

The IMF projects that "the value of non-oil revenues as a percentage of total GDP in Iraq will rise to 5.2% in 2023, but is expected to decline to 5.1% in 2024."

The report also emphasized that Iraq had the lowest non-oil government revenues among oil-producing Arab countries. The highest non-oil government revenues as a percentage of GDP in the Arab oil-producing nations were observed in Kuwait, where non-oil revenues constituted 39.3% of GDP in 2022. The United Arab Emirates followed with revenues reaching 21.9% of GDP in the same year.