Federal Finance Ministry Reveals 2024 Budget: 13.5 Trillion Dinars Sent to Kurdistan Region

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Federal Ministry of Finance Unveils 2024 Budget Deficit and Kurdistan Region Allocations

The Federal Ministry of Finance has announced that revenue in the federal budget for the 11 months of 2024 totaled over 135 trillion dinars, while expenditures exceeded 136 trillion dinars, with more than 13 trillion dinars allocated to the Kurdistan Region. 

On Sunday, 9th February 2025, the Federal Finance Ministry released the state accounts from January to November 2024, revealing that total revenues for this period amounted to 135 trillion, 322 billion, 716 million, 694 thousand, and 603 dinars, with 88% coming from oil revenues and 12% from non-oil revenues. In terms of expenditures, the state spent 136 trillion, 431 billion, 100 million, 288 thousand, and 100 dinars, of which 113.5 trillion dinars were for the current budget and 22.8 trillion dinars for the investment budget.

As a result, the budget deficit stands at approximately 1.1 trillion dinars.

Regarding the funds allocated to the Kurdistan Region during the 11 months of last year, the Ministry of Finance explained that 13 trillion, 112 billion, 934 million, 415 thousand, and 515 dinars were sent to the Kurdistan Region, with around 11.5 trillion dinars allocated for salaries, while the rest was for service and commodity requirements, maintenance, and capital expenditures. 

Meanwhile, the Kurdistan Regional Government's (KRG) Ministry of Finance issued a statement on 14th January 2025, noting that "the Federal Ministry of Finance had transferred 10,026,883,844,549 dinars to the KRG's Ministry, according to the ministry's bank account statement at the Central Bank of Iraq, Erbil branch. This amount excludes 726,995,775,414 dinars, which were deducted for retirement and income tax contributions. According to Table (E) in the 2024 federal budget, the allocated amount for the Kurdistan Region is 11,576,521,335,000 dinars, which is 822,642,015,037 dinars less than the amount originally allocated."



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