Iraq has increased its non – oil revenues from 7% to 12% from 2023 to 2024 and expected to reach 20% by 2026. That may be shy of what we see, as there has been significant increases in the ASYCUDA world system that rose 215% between January 2024 through May 2024 over 2023. Iraq is on the way to reduce oil dependency. There is becoming more and more production of natural gas, expansion of agriculture and minerals that are playing a role in reducing the heavily weighted oil economy.
