Analysis: Draw Media
Iraq Ministry of Finance — Budget Implementation Reports
Iraq’s Ministry of Finance has published its latest report on public revenues and expenditures for the first seven months of 2026. The report shows the following:
Total public revenues reached IQD 39,095,544,424,400. Oil revenues accounted for IQD 30,355,971,780,012 (78%), while non-oil revenues totaled IQD 8,739,572,644,388 (22%). More than IQD 693 billion in non-oil revenues from the Kurdistan Region was returned to the federal treasury.
Total government expenditures, including both operational and investment spending, reached IQD 68,262,237,098,960. Operational expenditures accounted for 96%, while investment expenditures represented 4% of total spending.
The federal government spent IQD 7,332,048,864,080 on salaries, social welfare, aid and assistance, and other expenditures related to the Kurdistan Region.
Expenditures exceeded total revenues by IQD 29,166,692,674,560. This deficit was equivalent to 74.6% of total revenues, while the deficit represented approximately 42.7% of total expenditures.
1. Iraq’s Total Public Revenues in the First Seven Months of 2026
According to the Ministry of Finance’s latest state accounts, Iraq generated total public revenues of IQD 39,095,544,424,400 during the first seven months of 2026.
Oil revenues constituted the largest share, amounting to IQD 30,355,971,780,012, or approximately 78% of total revenues.
Non-oil revenues amounted to IQD 8,739,572,644,388, representing approximately 22% of total revenues.
The figures also show that IQD 693,386,354,000 in non-oil revenues collected from the Kurdistan Region was returned to Iraq’s federal treasury.
Revenue Table
View the revenue table
2. Iraq’s Total Public Expenditures in the First Seven Months of 2026
The Ministry of Finance reported total expenditures of IQD 68,262,237,098,960 during the first seven months of 2026, covering both operational and investment spending.
The overwhelming majority of spending was directed toward operational expenditures, which totaled IQD 65,424,346,313,577, accounting for approximately 96% of total expenditures.
Investment expenditures amounted to IQD 2,837,890,785,383, representing approximately 4% of total spending.
During the same period, the federal government allocated IQD 7,332,048,864,080 for salaries, social welfare, aid and assistance, and other expenditures related to the Kurdistan Region.
Expenditure Table
View the expenditure table
3. Revenue–Expenditure Gap
The Ministry of Finance figures reveal a substantial gap between Iraq’s revenues and expenditures during the first seven months of 2026.
Total revenues stood at IQD 39,095,544,424,400, while total expenditures reached IQD 68,262,237,098,960.
As a result, government spending exceeded revenues by IQD 29,166,692,674,560.
This means that the deficit amounted to approximately 74.6% of total revenues. Put another way, total expenditures were approximately 1.75 times the government’s revenues during the period.
When measured against total expenditures, the deficit accounted for approximately 42.7%.
Sources
The analysis is based on Iraq’s Ministry of Finance state-account reports for the federal budget:
State Accounts through January 2026
State Accounts through February 2026
State Accounts through March 2026
State Accounts through April 2026
State Accounts through May 2026
State Accounts through June 2026
State Accounts through July 2026
Source: Iraq Ministry of Finance — Budget Implementation Reports Archive
