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Did non-oil revenues contribute to Iraq's budget?
Money and business
Economy News - Baghdad
Advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that non-oil revenues have witnessed a significant change in their contribution to budget resources, while he stated that the government program seeks to raise them to 20%.
Saleh told the official agency, followed by Al-Eqtisad News, that
“there are two paths in the rise in non-oil revenues, which have witnessed a significant change in their contribution to the federal general budget resources, as indicated by Prime Minister Muhammad Shiaa Al-Sudani,” indicating that “the
first path is an increase in the growth rate.” in the non-oil GDP to reach 6% annually, and
it represents a leap in the development of the productive activities of the non-oil sectors of the economy, headed by the
transportation sector,
digital communications technology, and
housing. Construction,
infrastructure,
agriculture, and
clear industrial transformation.” He added, "The
other path is the development taking place in the general budget resources other than the oil resource as a result of the high discipline in tax and customs collection after the introduction of digital processes and automation and the expansion of touching on neglected tax bases," pointing out that "the
progress achieved is consistent with the government program to seek to raise the share of non-oil revenues." Oil revenues over time and within the economic reform packages by making it 20% instead of less than 10%. Saleh explained,
“This issue is related to
growth in non-oil gross domestic product on the one hand, and
maximizing the budget’s resources financially from traditional revenue sources, whether
direct and indirect taxes, and
various related government revenues,
which generates a complementary relationship between financial sustainability and economic sustainability over time, which is a higher goal than Objectives of the government program.
Prime Minister Muhammad Shiaa Al-Sudani had confirmed that
“non-oil revenues reached 14 percent from 7 percent,” noting that “the
unemployment rate decreased from 16.5 to 14.4, and the
poverty rate was reduced from 23 percent to 17 percent.”
views 224 Added 12/21/2024 - 1:51 PM
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Money and business
Economy News - Baghdad
Advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that non-oil revenues have witnessed a significant change in their contribution to budget resources, while he stated that the government program seeks to raise them to 20%.
Saleh told the official agency, followed by Al-Eqtisad News, that
“there are two paths in the rise in non-oil revenues, which have witnessed a significant change in their contribution to the federal general budget resources, as indicated by Prime Minister Muhammad Shiaa Al-Sudani,” indicating that “the
first path is an increase in the growth rate.” in the non-oil GDP to reach 6% annually, and
it represents a leap in the development of the productive activities of the non-oil sectors of the economy, headed by the
transportation sector,
digital communications technology, and
housing. Construction,
infrastructure,
agriculture, and
clear industrial transformation.” He added, "The
other path is the development taking place in the general budget resources other than the oil resource as a result of the high discipline in tax and customs collection after the introduction of digital processes and automation and the expansion of touching on neglected tax bases," pointing out that "the
progress achieved is consistent with the government program to seek to raise the share of non-oil revenues." Oil revenues over time and within the economic reform packages by making it 20% instead of less than 10%. Saleh explained,
“This issue is related to
growth in non-oil gross domestic product on the one hand, and
maximizing the budget’s resources financially from traditional revenue sources, whether
direct and indirect taxes, and
various related government revenues,
which generates a complementary relationship between financial sustainability and economic sustainability over time, which is a higher goal than Objectives of the government program.
Prime Minister Muhammad Shiaa Al-Sudani had confirmed that
“non-oil revenues reached 14 percent from 7 percent,” noting that “the
unemployment rate decreased from 16.5 to 14.4, and the
poverty rate was reduced from 23 percent to 17 percent.”
views 224 Added 12/21/2024 - 1:51 PM
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