Iraq’s budget deficit surges 346% as oil revenues slump

RIYADH: Iraq’s budget deficit surged 346 percent year on year to 36.26 trillion Iraqi dinars ($23.9 billion) in the first nine months of 2026, as a steep decline in oil revenues deepened pressure on public finances. Government expenditure reached 89.08 trillion dinars through September, against total revenues of 52.82 trillion dinars, according to data from the Iraqi Ministry of Finance.…