Iraq brought in more than 31.16 trillion Iraqi dinars ($23.6 billion) in revenue during the first four months of 2026, according to new figures from the Ministry of Finance.
Most of that money came from oil. Between January and April, oil sales generated about 26.12 trillion dinars ($19.9 billion), making up 84% of the country’s total income. Non-oil revenues reached around 5.04 trillion dinars ($3.84 billion).
At the same time, government spending was even higher. By the end of April, total federal budget expenditures had reached 37.83 trillion dinars ($28.8 billion). Of that amount, 36.44 trillion dinars ($27.8 billion) went toward current expenses, while 1.391 trillion dinars ($1.06 billion) was spent on investment and development projects.
The Finance Ministry had already reported that revenues from January and February alone exceeded 15 trillion dinars ($11.45 billion), showing that government income remained strong in the early months of the year.
Despite these revenues, Iraq continues to depend heavily on oil to fund its budget. This leaves the country exposed whenever global oil prices fall or the energy market faces uncertainty.
Because oil remains the main source of income, the government often has to rely on borrowing, either from inside or outside the country, to cover budget shortfalls. Economists say this highlights the need for Iraq to strengthen other sectors of its economy and create more stable sources of revenue beyond oil.
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