Predominantly oil-dependent

Iraq reports 106 trillion dinar in revenue in 10 months

BAGHDAD, December 20— Iraq’s total revenues for the first ten months of the year reached 106 trillion dinars, as outlined in the monthly financial records released by the Iraqi Ministry of Finance on December 18, 2023.

The substantial majority of this revenue, 95%, is derived from oil, calculated at $70 per barrel. The overall revenue during this period amounted to 106 trillion 843 billion 96 million 310 thousand 310 dinars, with non-oil revenue contributing a more modest 5%, totaling 5 trillion 477 billion 559 million 979 thousand 280 dinars.

Of the total, approximately six trillion dinars were allocated to oil transportation expenses, resulting in an average of 101 trillion 940 billion dinars.

Moreover, Iraq’s oil revenue for November exceeded $8.5 billion, according to the oil ministry.