Iraq's Non-Oil Revenues Hit New High
Iraq experienced a record increase in non-oil revenue to 16% of its total fiscal income, the highest rate recorded so far, during the months of May and June, up from less than 5% in previous years. This rise is attributed to the diversification of revenue sources, including taxes, fees, and transfer incomes, with the Kurdistan Region contributing approximately 5.5% of the total non-oil revenues. This development is part of the government's efforts to diversify income sources and reduce reliance on oil.
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