Iraq's June federal revenues fall 42% from May, oil receipts cited

BAGHDAD, Iraq — Iraq's federal budget revenues fell to roughly 35.94 trillion Iraqi dinars in June, down from 62 trillion dinars the previous month, a decline of about 42% month-on-month, according to official figures cited in the report. Oil sales accounted for the bulk of June income, and the contraction in that category was reflected directly in the overall figure. Non-tax revenue lines also posted declines compared with May, the data showed. The drop in federal revenues comes against continuing public spending during the same period, increasing pressure on the state's finances. A detailed breakdown of June revenue items and expenditure is expected to be released separately by the Ministry of Finance. No further details were immediately available.