Iraq’s federal revenues drop 40%+ on oil decline

Shafaq News- Baghdad

Iraq’s federal revenues fell 42% year-on-year in June 2026, driven by a sharp decline in oil income, according to budget execution data.

Total revenues dropped to 35.946 trillion dinars ($27.23 billion) from 62.004 trillion dinars ($46.97 billion) in June 2025, a decline of about 26.058 trillion dinars.

Oil revenues nearly halved to 28.506 trillion dinars from 57.053 trillion dinars a year earlier, a decrease of 28.547 trillion dinars.

Non-oil revenues, however, rose to 7.440 trillion dinars from 4.951 trillion dinars over the same period.

As a result, oil’s share of total federal revenues fell to 80% from 92%, while the contribution of non-oil revenues increased to 20% from 8%.

The dollar figures are based on an exchange rate of 1,320 dinars per dollar.