Oil Revenue Share of Iraq's Federal Budget Drops to 84%

BAGHDAD, Iraq — Oil revenues accounted for 84% of Iraq's federal budget during the first five months of 2026, down from 91% during the same period in 2025, according to official data from the Ministry of Finance. Total federal budget revenues reached approximately 33.747 trillion dinars by the end of May 2026, representing a 26.9% decrease from the 46.157 trillion dinars recorded in the same period last year. Oil and mineral revenues fell by approximately 35.7%, dropping to 26.946 trillion dinars from 41.931 trillion dinars. Conversely, non-oil revenues rose 53.3%, increasing from 4.226 trillion to 6.477 trillion dinars, raising their share of total revenues from 9% to 16%. This growth included increases in income taxes, goods and production taxes, and fees, while public sector profit transfers rose from 660 billion to 1.242 trillion dinars. The report noted that total oil revenues for 2026 stood at 27.270 trillion dinars. This figure includes 2.090 trillion dinars from oil deliveries from the Kurdistan Region following accounting reconciliations with the state treasury.