Iraq recorded a Government Budget deficit equal to 7.70 percent of the country's Gross Domestic Product in 2023. Government Budget in Iraq averaged -3.36 percent of GDP from 2004 until 2023, reaching an all time high of 10.70 percent of GDP in 2006 and a record low of -35.40 percent of GDP in 2004. source: IMF

Government Budget in Iraq is expected to reach 5.00 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iraq Government Budget is projected to trend around 4.50 percent of GDP in 2025, according to our econometric models.




Related Last Previous Unit Reference
Fiscal Expenditure 122720162.00 94878893.00 IQD Million Oct 2024
Government Budget -7.70 7.60 percent of GDP Dec 2023
Government Budget Value 19470846.00 4915661.00 IQD Million Sep 2024
Government Debt to GDP 49.20 44.90 percent of GDP Dec 2023
Government Revenues 124659048.00 114349739.00 IQD Million Oct 2024

Iraq Government Budget
The Government Budget to GDP ratio is an itemized accounting of the payments received by the government (taxes and other fees) and the payments made by the government (purchases and transfer payments) relative to GDP. A budget deficit occurs when a government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-7.70 7.60 10.70 -35.40 2004 - 2023 percent of GDP Yearly