Shafaqna English- Iraq’s non-oil earnings might be as high as $22 billion by 2025, according to projections made by the Iraqi Parliamentary Finance Committee.
Due to the country’s heavy reliance on oil exports, Iraq’s economy is vulnerable to changes in the price of the commodity globally. The budget for 2024, for example, is predicated on an oil price of $70 per barrel, which is less than earlier estimates and reflects the continued uncertainty of the oil market.
The Prime Minister’s Finance Advisor Mazhar Saleh has stated that although 2024 may be steady, tighter budgetary control would be necessary for 2025 because of anticipated income deficits.
Source: Iraqi News