Losses are more than 31 trillion dinars in 8 months ... An economist shows the state's revenues and expenditures - urgent
953 Economy 10/18/2020 12:09 am
Baghdad today - Baghdad
Today, Sunday (October 18, 2020), the economic expert, Nabil Al-Marsoumi, revealed the state's revenues and expenditures up to August of this year, as well as the losses that Iraq lost during only eight months of one year.
Al-Marsoumi said in an interview with (Baghdad Today), that "public revenues up to August of this year amounted to 34.702 trillion dinars, while it achieved 66.163 trillion dinars during the same period of 2019, meaning that Iraq has lost 31,451 trillion dinars of its public revenues. During the first eight months of 2020, a decrease of 52%. "
He added, "Oil revenues achieved 31.916 trillion dinars during eight months of 2020, while it was 61.147 trillion dinars during the same period last year, with a net loss of 29.231 trillion dinars during only eight months, and a decrease of 52% due to low oil prices." And Iraq's oil exports have declined."
He pointed out that "non-oil revenues did not exceed 2.786 trillion dinars until August 2020, lower than the levels of the same period last year, which amounted to 5.015 trillion dinars, and this means a decrease in non-oil revenues amounted to 2.229 trillion dinars, a decrease of 55%, and this An indication of the ineffectiveness of government measures in maximizing non-oil revenues.
He explained, "Customs revenues achieved 659 billion dinars during the first eight months of this year, after what was 1.122 trillion dinars during the same period last year, a decrease of 463 billion dinars, due to the decline in Iraqi imports and the closure of borders due to the Corona pandemic."
And he indicated that "tax revenues amounted to 903 billion dinars up to the current August, while it was 1.695 trillion dinars in the same period last year."
Al-Marsoumi continued, "The budget share of the profits of public companies reached 532 billion dinars, higher than last year's level, which amounted to 359 billion dinars, due to the increase in the Ministry of Finance's share of profits from 40% to 80%."
He pointed out that "the total public expenditures with advances amounted to 46.918 trillion dinars until August 2020, while the amount rose to 65.095 trillion dinars during the same period last year, and this is an indication of the rationalization of public finances in Iraq as a result of the financial crisis."