KRG delegation discusses Region’s budget share with Iraqi officials

SULAIMANI, Kurdistan Region — The Kurdistan Regional Government (KRG) delegation, led by Minister of Finance and Economy Awat Sheikh Janab, joined Baghdad’s general high-committee session for budget amendment. The aim of the visit is to ensure the Kurdistan Region’s financial stability amidst the 2024 Iraqi budget revisions.

The session, which was attended by several Iraqi ministers, including the Oil Minister Hayyan Abdul Ghani, addressed various special affairs concerning the Kurdistan Region, particularly focusing on the issues surrounding Kurdistan’s oil and its budgetary allocation, as stated by the KRG’s Finance Ministry.

The statement from the Finance Ministry of the KRG emphasized that the meeting took place in a constructive and responsible atmosphere, characterized by mutual understanding between the Erbil and Iraqi delegations. The aim was to tackle challenges and resolve issues arising from last year’s budget law.

“The Iraqi budget law for 2024 should be amended in a way that ensures and safeguards the Kurdistan Region’s financial rights,” reads the statement from the ministry.

The meeting also addressed the matter of the Kurdistan Region’s non-oil revenues, which has long been a point of contention between the governments of Erbil and Baghdad. Both delegations agreed to establish a formal mechanism for transferring these revenues to Baghdad in accordance with the Iraqi Court ruling and existing financial and budget law.

Following the meeting, the Iraqi Ministry of Planning issued a statement detailing the discussed mechanisms for transferring allocations from the Kurdistan Region within the budget framework.

It also emphasized the obligation for the Kurdistan Regional Government to deliver its revenues to Baghdad in accordance with the directives of the Federal Court decision, the Financial Administration Law, and the Budget Law.

On Tuesday evening, a senior delegation from the KRG, headed by Awat Sheikh Janab, Minister of Finance, arrived in Baghdad to engage in discussions regarding revisions to the Iraqi budget law and to address matters concerning the Kurdistan Region’s allocation for the fiscal year 2024.

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