Iraqi Prime Minister Mohammed Shia al-Sudani announced that non-oil revenues now account for 14% of the country’s total income, with plans to raise the figure to 20% under the three-year budget law.

2050 Vision and Diversifying Revenue Sources

“We have announced the 2050 vision, and we plan to move away from dependence on a single source of income. Iraq will no longer rely solely on oil revenues,” Sudani said. He added that strengthening the industrial sector is a key goal of this strategy.

Increase in Non-Oil Revenues

According to Sudani, non-oil revenues have shown steady growth, rising from 7% in 2024 to 14% today. The government’s aim is to expand that share to 20% in the coming years, as part of broader reforms to diversify Iraq’s economy.