Iraq’s budget deficit exceeds $20bn through July
Finance Ministry data showed expenditure reached 65.4 trillion dinars in the first seven months, well above revenue.
Iraq recorded a budget deficit of 26.329 trillion dinars, or about $20.16 billion, through July, according to Finance Ministry data reported by Shafaq News. Spending reached 65.424 trillion dinars, while revenue totalled 39.096 trillion dinars.
Oil supplied 78% of revenue during the period, reinforcing Baghdad’s exposure to export disruptions and oil-market volatility. Salaries, social welfare and debt servicing accounted for major portions of expenditure.
Original reporting: Shafaq News ↗