The Ministry of Finance revealed, today, Monday, the size of revenues in the federal budget during 11 months, which exceeded 135 trillion dinars…
The ministry said in data tables it issued in February of this month, which were reviewed by Al-Maalouma Agency, that “the accounts from January to November 2024 for the last fiscal year showed that revenues from oil stabilized at about 88%, but it still constitutes the main resource for the general budget,” indicating that “the rentier economy is the basis of the country’s general budget.”
The financial tables showed that “the total revenues for eleven months of last year amounted to 135 trillion, 322 billion, 716 million, 694 thousand, and 603 dinars, indicating that the total advances amounted to 17 trillion, 352 billion, 387 million, 556 thousand, and 226 dinars.”
According to the financial tables, oil revenues amounted to 119 trillion, 33 billion, 253 million, and 845 thousand dinars, which constitutes 88% of the general budget, while non-oil revenues amounted to 16 trillion, 289 billion, 462 million, and 848 thousand dinars, which constitutes 12% of Iraq’s general budget.
Iranian currency plunges to historic low as Trump pressures
The Iranian rial fell to its lowest level ever, as US President Donald Trump announced the re-imposition of the maximum pressure policy on Tehran.
Meanwhile, according to the Iranian Statistical Center report, the annual inflation rate in the current Iranian year has reached more than 45%, while the percentage of families below the poverty line has risen to 40%.
Data published by Iranian media websites showed that the Iranian currency fell for the second day in a row in unofficial transactions to historic levels against the US dollar.
The price of the US dollar in the free market in Iran rose by about 3,000 rials, exceeding 92,000 for the first time in history.
The Iranian toman fell to a new historic low, falling to 9 million and 265 thousand tomans for every 100 dollars, following Trump’s decisions to resume the maximum pressure policy on Iran and stop Iranian oil exports.
Trump’s order calls for halting Iranian oil exports and seeking to “snap back” UN sanctions on Iran, but he has also indicated he does not want to impose those sanctions and wants to reach a deal with Tehran.
