Al-Sudani Advisor: The government program seeks to raise non-oil revenues to 20%, 21 DEC

 Al-Sudani Advisor: The government program seeks to raise non-oil revenues to 20%

Baghdad – Mil

The adviser to Prime Minister Mazhar Mohammed Saleh confirmed on Saturday that non-oil revenues have witnessed a significant change in their contribution to budget resources, while the government program seeks to raise them to 20%.

Saleh said: “There are two tracks in the rise in non-oil revenues, which has witnessed a significant shift in its contribution to federal budget resources, and as indicated by Prime Minister Mohammed Shia Al-Sudani,” noting that “the first track is the high growth rate in non-oil GDP to touch 6% annually, and is a leap in the development of productive activities for sectors of economies outside oil, directed by the transport sector, digital communication technology, housing, construction, infrastructure, agriculture and clear industrial transformation.”

He added that “the other track is the development in public budget resources without an oil supplier due to the high discipline in tax and customs collection after the introduction of digital and automation processes and the expansion of the contact with neglected tax vessels,” pointing out that “the progress made is consistent with the government program to seek to raise the share of non-oil revenues over time and within the economic reform packages by making them 20% instead of less than 10%.”

Saleh explained that “this issue is related to the growth in non-oil GDP on the one hand and the financial maximization of budget resources from traditional revenue sources, both direct and indirect taxes and various related government revenues, which generates an integrative relationship between financial sustainability and economic sustainability over time, which is a upper goal of the government program.”