DUBAI- Iraq added up to $16 billion of additional oil revenue to this year's budget for the current financial year, the state news agency reported on Wednesday, citing the oil ministry.

"The additional revenues achieved by the ministry of oil in the federal general budget for the fiscal year 2021 will reduce inflation and the volume of debt," ministry spokesman Assem Jihad was quoted as saying.

(Reporting by Shakeel Ahmad Editing by David Goodman) ((;))