Home
[You must be registered and logged in to see this image.]
The contribution of oil to the Iraqi budget rises to 94%
Shafaq News/ The Ministry of Finance issued the Iraqi state accounts for the month of last January for the fiscal year 2022, which indicated a decline in the contribution of the non-oil sectors to 6%, while an economic expert attributed this to the rise in global oil prices.
Shafak News Agency followed the data and tables issued by the Ministry of Finance in the current month of April for the accounts of last January, which showed that oil is the main resource for Iraq's general budget, as it rose by 5.62% from last December, bringing the contribution of oil to the general budget to 94%, after it was 89 % in the month of December, which indicates that the rentier economic system is the basis in its general budget.
Through the financial tables, it is indicated that the total oil revenues for the month of January amounted to 10 trillion and 899 billion and 415 million and 915 thousand and 534 dinars, which represents 94% of the total revenues, while the total non-oil revenues amounted to 695 billion and 872 million and 729 thousand and 30 dinars. 6% of the total revenues, while the total oil and non-oil revenues amounted to 11 trillion and 595 billion and 288 million and 644 thousand and 554 dinars, which is 144% higher than the same period last year 2021, which amounted to 4 trillion and 744 billion dinars as a result of high oil prices.
According to the finance report, the non-oil revenues for the month of last January came from the current revenues represented by oil revenues and mineral wealth, amounting to 10 trillion, 853 billion and 496 million and 795 thousand and 32 dinars, and it came from taxes on income and wealth at 41 billion and 18 million and 559 thousand and 210 dinars. And it also came from commodity taxes and production fees at 63 billion and 996 million and 115 thousand and 583 dinars. It also came from fees that amounted to 102 billion and 631 million and 746 thousand and 567 dinars and from the share of public sector profits of 46 billion and 57 million and 257 thousand and 389 dinars and from transfer revenues that amounted to 387 billion and 244 million and 110 thousand and 958 dinars and from other revenues of 95 billion and 908 million and 666 thousand and 186 dinars.
It also came from capital revenues, which amounted to 4 billion and 935 million and 393 thousand and 6280 dinars.
For his part, the economic expert, Hilal Al-Tahan, considered in an interview with Shafaq News that "the rise in global oil prices was behind the increase in the proportion of oil's contribution to the federal budget at the expense of non-oil revenues during the month of January," noting that "this rise does not mean a decline in non-oil revenues. its contribution to the budget.
He added, "The non-oil revenues remain unchanged, the main reason behind the decrease in their percentage in the budget compared to the rise in oil prices, whose rise exceeded more than 50% compared to what was recorded in the same period last year."
He pointed out that "the process of shifting from the rentier economy needs a complete development of the Iraqi economy by operating the production process in Iraq and developing the backbone of the economy from agriculture and industry, which is still underdeveloped and its low contribution, which does not contribute more than 2 to 4 percent of the gross domestic product," adding that "Iraq still depends in the provision of goods and merchandise on the foreign importer, at a rate of more than 90 percent."
The Prime Minister's Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021 in an interview with Shafaq News Agency that the reasons for the economy remaining rentier are due to wars and the imposition of siege during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources.
He pointed out that "development, stability, diversification of the economy, and the transition from the rentier economy require political stability and stable institutions, which is what the state has missed over the years."
The state’s continued dependence on oil as the only source of the general budget makes the country at risk from global crises that occur from time to time due to the impact of oil on it, which makes Iraq tend every time to cover the deficit by borrowing from abroad or inside, which thus indicates the inability to manage funds The state effectively, and the inability to find alternative financing solutions.
[You must be registered and logged in to see this link.]
Shafak News Agency followed the data and tables issued by the Ministry of Finance in the current month of April for the accounts of last January, which showed that oil is the main resource for Iraq's general budget, as it rose by 5.62% from last December, bringing the contribution of oil to the general budget to 94%, after it was 89 % in the month of December, which indicates that the rentier economic system is the basis in its general budget.
Through the financial tables, it is indicated that the total oil revenues for the month of January amounted to 10 trillion and 899 billion and 415 million and 915 thousand and 534 dinars, which represents 94% of the total revenues, while the total non-oil revenues amounted to 695 billion and 872 million and 729 thousand and 30 dinars. 6% of the total revenues, while the total oil and non-oil revenues amounted to 11 trillion and 595 billion and 288 million and 644 thousand and 554 dinars, which is 144% higher than the same period last year 2021, which amounted to 4 trillion and 744 billion dinars as a result of high oil prices.
According to the finance report, the non-oil revenues for the month of last January came from the current revenues represented by oil revenues and mineral wealth, amounting to 10 trillion, 853 billion and 496 million and 795 thousand and 32 dinars, and it came from taxes on income and wealth at 41 billion and 18 million and 559 thousand and 210 dinars. And it also came from commodity taxes and production fees at 63 billion and 996 million and 115 thousand and 583 dinars. It also came from fees that amounted to 102 billion and 631 million and 746 thousand and 567 dinars and from the share of public sector profits of 46 billion and 57 million and 257 thousand and 389 dinars and from transfer revenues that amounted to 387 billion and 244 million and 110 thousand and 958 dinars and from other revenues of 95 billion and 908 million and 666 thousand and 186 dinars.
It also came from capital revenues, which amounted to 4 billion and 935 million and 393 thousand and 6280 dinars.
For his part, the economic expert, Hilal Al-Tahan, considered in an interview with Shafaq News that "the rise in global oil prices was behind the increase in the proportion of oil's contribution to the federal budget at the expense of non-oil revenues during the month of January," noting that "this rise does not mean a decline in non-oil revenues. its contribution to the budget.
He added, "The non-oil revenues remain unchanged, the main reason behind the decrease in their percentage in the budget compared to the rise in oil prices, whose rise exceeded more than 50% compared to what was recorded in the same period last year."
He pointed out that "the process of shifting from the rentier economy needs a complete development of the Iraqi economy by operating the production process in Iraq and developing the backbone of the economy from agriculture and industry, which is still underdeveloped and its low contribution, which does not contribute more than 2 to 4 percent of the gross domestic product," adding that "Iraq still depends in the provision of goods and merchandise on the foreign importer, at a rate of more than 90 percent."
The Prime Minister's Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021 in an interview with Shafaq News Agency that the reasons for the economy remaining rentier are due to wars and the imposition of siege during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources.
He pointed out that "development, stability, diversification of the economy, and the transition from the rentier economy require political stability and stable institutions, which is what the state has missed over the years."
The state’s continued dependence on oil as the only source of the general budget makes the country at risk from global crises that occur from time to time due to the impact of oil on it, which makes Iraq tend every time to cover the deficit by borrowing from abroad or inside, which thus indicates the inability to manage funds The state effectively, and the inability to find alternative financing solutions.
[You must be registered and logged in to see this link.]
» Nader " Good morning I can use my Iraqi debit card in America" 5-28-2023
» Up to 50 million.. Launching soft loans for this segment
» Government spokesman: Iraq is determined to start the development path project in 2024
» Increasing the salaries of retirees is the prerogative of the prime minister, and parliament cannot
» Obelisk Clock.. Deputy: SOMO confirmed the exit of 160 million barrels from Kurdistan to Israel at a
» Expert: 300 million dollars are spent daily, and Iraq's dispute with the federal government still ex
» Restricting dealings in dinars.. Government directives to support the national currency and hold vio
» Two possibilities stand behind the “exploding” of the parliamentary finances, the Sudanese agreement
» The Central Bank discusses the electronic collection project through pos devices
» Economist: The budget crisis will not affect the salaries of Kurdistan employees
» Al-Baldawi: The coming days will witness the dismissal of governors and deputy ministers from their
» Al-Karawi: Kuwait seeks to obstruct the Al-Faw port project at any cost
» The framework announces its five recommendations during a meeting of its leaders
» Al-Halbousi's setbacks continued after the valiant took control of his electoral positions in Diyala
» After passing the budget... the oil and gas laws and the general census are on the parliament table
» The Minister of Labor announces the launch of the 35th batch of soft loans
» Up to 25 million.. Al-Rafidain launches a new meal from the predecessors
» Kurdistan puts the stick in the wheel to obstruct the passage of the budget
» An economist told Nina: Opening a window to receive farmers' deposits in dinars will contribute to r
» An economist to Nina: Imposing taxes on mobile phone cards is an "improper" measure that reduces the
» The Iraqi Central Bank's sales of foreign currency decreased today
» The Pension Authority is discussing with the International Monetary Fund its plans for administrativ
» An economist points out the importance of the Saudi economy entering into a complex relationship wit
» Ministry of Interior: Government directives regarding dealing in dollars instead of dinars
» The budget session includes the numbers of the “missing”... Kurdistan rejects the amendment, and Bag
» Al-Sudani visits a factory to see its production plans
» The judiciary is looking to address the legal problems of the oil companies in Kurdistan
» Deputy: You will not pass a budget that robs the rights of the center and the south
» Report: Iran is blackmailing Iraq by cutting gas to pay off debts and obstructing its cooperation wi
» For the eighth month.. Russia continues to remove Iraq from oil exports to India
» High dollar prices in Baghdad and Erbil
» Iraq refuses to include women in bodybuilding championships: Our customs do not allow
» The Iraqi budget.. "zero" environmental allocations
» Chinese companies account for the largest share of Iraq's oil exports in a month
» Billions of losses due to the cessation of Kurdistan's oil exports: the government's inability to fi
» A collective decline in the Gulf stock exchanges, due to the possibility of raising the US interest
» The IMF expresses its "satisfaction" with the strategic priorities of the Iraqi Retirement Authority
» Dollar exchange rates in the local markets
» About 70% of Iraqis live in urban areas
» A Kurdish delegation is discussing with Zaidan the legal problems related to the oil companies
» During 2023.. the fifth arrest warrant was issued against a former Iraqi governor
» Nechirvan Barzani comments on the crisis of the amendments to the budget law: the people are bored
» A deputy calls for approving a budget that does justice to everyone and adheres to the constitution
» Parliament waves the dismissal of governors and general managers
» A leader in the framework: The amendments to the articles of the region came at the suggestion of Ku
» Canceling the budget amendments for the Kurds.. Al-Barti to (Baghdad Today): One party abstained - U
» The Central Bank and the Association of Banks are preoccupied with forums, and the dollar continues
» The Central Bank of Iraq sells more than 250 million dollars in an auction on Monday
» Asiacell, Qi Card, and Digital Zone announce joint cooperation to develop electronic payment service
» Parliamentary Committee: Starting oil and gas legislation after the parliament recess
» The two prime ministers and the Supreme Judicial Council are discussing ways to enhance integration
» The government spokesman reveals the start date of the implementation of the development path projec
» A Kurdish delegation is discussing with Zaidan the legal problems related to the oil companies
» Iraq and the International Monetary Fund are discussing plans for the Pension Authority in administr
» Ministry of Interior: 5 years imprisonment for dollar dealers
» It will provide thousands of jobs.. Government talk about surprises related to the "development path
» Parliamentarian: "The path of development" is a pillar of the Iraqi economy.. We will move away from
» Dollar exchange rates in the Iraqi market
» Baghdad and Erbil discuss the legal problems related to the oil companies in Kurdistan
» A deputy denounces the "allegations" of the Finance Committee: There is no budget deficit!
» Disagreements over the budget raise doubts about the secrets of the government formation agreement w
» Iraq's oil exports amounted to 98 million barrels, with revenues reaching $7 billion
» Report: Iran is blackmailing Iraq by cutting gas to pay off debts and obstructing its cooperation wi
» Details of the Sudanese meeting and the delegation of the International Renewable Energy Agency
» Al-Sudani's advisor: The Iraqi market is still not defined, and the guarantee law will regulate its
» Between supporters and opponents.. A fierce debate about the new path of development in Iraq
» Oil products call on the owners of generators who do not own a (gas) share to complete their transac
» The Minister of Planning chairs the first meeting of the steering committee to enhance joint coopera
» More than 27 trillion dinars, the volume of financial revenues in Iraq's budget in March
» "After the recent amendments".. Shafaq News publishes the 2023 budget bill
» Cautious estimates in the "road of development" .. Hopes and obstacles in front of Iraq
» Iraq reveals the history of the electrical connection with Jordan
» Al-Sudani reviews Iraq's plans for environmental threats to the delegation of the International Rene
» "The political agreement is not an alternative." The framework's message to the objectors: Violation
» Responsible for 60% of the "smuggled" crops.. cut off a major smuggling artery from Kurdistan to Bag
» The President of the Republic receives the delegation of the Jihad and Construction Movement
» The President of the Republic receives the Minister of Industry and Minerals
» Minister of Justice Khaled Shwani receives the head of the delegation of the International Committee
» Government advisor: Iraq is currently one of the countries with moderate prices compared to other co
» Director General at the Ministry of Commerce.. Inflated funds and illegal gain
» The Iraqi Central Bank announces the sale of more than 40 million dollars in cash today, Sunday
» Outputs of the Sudanese meeting of the opinion body in the Ministry of Resources
» The Minister of Finance of the Region: Amending Articles 13 and 14 in the budget has left no power f
» Ministry of Oil: Last month's revenues amounted to more than $7 billion
» The Prime Minister's advisor reveals the percentage of budget support for fuel, electricity and serv
» Sudanese Consultant: The Workers' Insurance Law constitutes a turning point towards regulating the m
» Governmental parliamentary agreement to reduce Internet prices
» A legal expert explains how to adjust the salaries of retirees and the possibility of increasing the
» Anbar clans warn of the repercussions of the return of the criminal Baath
» Parliamentary Oil: Türkiye is blackmailing Iraq to prevent it from receiving compensation from the P
» A Jordanian politician told Al-Malooma: America flooded Iraq with corruption and chaos
» Legal: The government is obligated to sever relations with Jordan
» The budget session includes the numbers of the "missing"... Kurdistan rejects the amendment, and Bag
» Parliamentary confirmation of passing the budget at the end of this week
» A Bond Revealing The Details Of The First Session Of The Federal Court Regarding The Election Law
» Parliamentary Finance discusses the mechanism for making transfers between spending units
» Director General of Ports: Iraq, through the path of development and the great port of Faw, will be
» The work of the 11th meeting of the Technical Committee for Arab Rules of Origin, chaired by Saudi A