Oil fuels 90% of Iraq’s $70B+ revenue in 2025

Shafaq News– BaghdadIraq generated more than 103 trillion Iraqi dinars ($71.4billion) in federal budget revenue between January and October 2025, with oilaccounting for about 90% of the total, Finance Ministry data showed onSaturday.According to the data, oil revenue reached roughly $64.3billion during the period, while non-oil income totaled about $7.1 billion.Iraq continues to depend on oil to fund public spending. Inearlier remarks to Shafaq News, government economic adviser Mudher MohammedSaleh explained that decades of war, international sanctions, and politicalinstability had undermined efforts to diversify the economy and expand non-oilrevenue sources.: Iraq’s economy in 2025: Oil dominance and delayed reforms