Thursday, June 30, 2022

Baghdad

PM’s financial advisor: Iraq’s revenues to exceed 150 billion USD during 2022

 PM’s financial advisor: Iraq’s revenues to exceed 150 billion USD during 2022

Archived photo of financial advisor to the Prime Minister Mazhar Muhammad Salih

Baghdad (IraqiNews.com) – The financial advisor to the Prime Minister Mazhar Muhammad Salih expected Thursday that Iraq’s revenues will exceed 150 billion US dollars during 2022.

In a statement to the Iraqi News Agency (INA), Salih stated that the expectations of the International Monetary Fund of a leap in the general revenues of Iraq are related to both oil and non-oil total revenues.

Non-oil revenues include income tax, customs and excise duties, value-added tax and other sources.

“The International Monetary Fund may have estimated the average daily exports of crude oil at 3.4 million barrels, with an average price of 104 US dollars per barrel, with non-oil revenues of eight to ten billion dollars,” Salih explained in his statement to INA.

“If Kurdistan region’s oil revenues and other revenues are added, then the total federal revenues of Iraq could easily exceed 150 billion US dollars by the end of the fiscal year 2022,” Salih added.

The international Monetary Fund expected earlier that Iraq’s general revenues will jump to 149 billion US dollars during 2022, especially after the rise of oil prices, with an annual change rate of 73 percent compared to 2021.