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IS Income Drops 30%

IS Income  Drops 30% IS Income  Drops 30%

The self-styled Islamic State terrorist group’s income and the population under its control have both fallen by about a third, a US-based analysis firm said, describing the declining revenue as a threat to its long-term rule over its self-proclaimed caliphate. IS revenue fell to $56 million a month in March from around $80 million a month in the middle of last year, the analysis company IHS said, Reuters reported. Daily oil output dropped to 21,000 barrels from 33,000 barrels over the same timeframe, as production facilities suffered damage from airstrikes. The territory under its control has declined by about 22% since mid-2014, while the population of that territory has fallen to around 6 million from 9 million. “There are fewer people and business activities to tax; the same applies to properties and land to confiscate,” said IHS senior analyst Columb Strack. Around 50% of the group’s revenue come from taxation and confiscation, 43% from oil and the rest from drug smuggling, sale of electricity and donations, the report said.

 

Financialtribune.com