The Kurdistan Government publishes details of the financial payments sent by the federal government

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[size=52]The Kurdistan Government publishes details of the financial payments sent by the federal government to the region in 2023[/size]

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March 15, 2024
Today, Friday, the Kurdistan Regional Government published precise details about the actual financial payments sent by the federal government to the region in 2023.[/size]
[size=45]The government said: “The Kurdistan Region’s full share of the federal budget for the year 2023 amounted to (16 trillion and 497 billion dinars), but the federal government only sent 998 billion dinars of it.”[/size]
[size=45]She also explained that “in 2023, the federal government sent the Kurdistan Region 3 trillion and 700 billion dinars in loans.”[/size]
[size=45]She continued: “Internal revenues, in addition to the loans sent by the federal government to the region, amounted to 7 trillion and 119 billion dinars.”[/size]
[size=45]She confirmed that “there remains an amount of 9 trillion and 378 billion dinars from the budget that the federal government did not send to the Kurdistan Region.”[/size]
[size=45]The government made a number of observations in this regard:[/size]
[size=45]1- With regard to the entitlements for the Kurdistan Regional Government’s share in the allocation of its sovereign expenditures, these expenses were not provided to the Kurdistan Regional Government in cash but in kind, even though the Kurdistan Regional Government did not receive its full entitlements in the food and medicine departments. Data are available from the KRG Ministries of Trade, Industry and Health[/size]
[size=45]2- To date, no significant amount of sovereign expenditures, including Peshmerga salaries, have been paid to the Kurdistan Regional Government.[/size]
[size=45]3- The Ministry of Natural Resources of the Kurdistan Regional Government, from 06/25/2023 to 11/3/2023, delivered 12 million barrels of oil to the federal government without any compensation from the Federal Ministry of Oil for the costs of production and transportation of the quantities delivered, or payment of the dues of the operating oil producing company. In the Kurdistan Region.[/size]
[size=45]4- Oil and non-oil revenues and expenditures for the first six months of 2023 were audited by the Federal Financial Supervision Bureau, in coordination with the Financial Supervision Bureau of the Kurdistan Regional Government, and currently the team of the Federal Financial Supervision Bureau and the Kurdistan Regional Government continues to complete the auditing process for the second six months of the year. In 2023, a report will be submitted on the results of the final review for the entire year of 2023 to the federal government.[/size]
[size=45]5- The total monthly trial balances for the year 2023 for all units affiliated with ministries and directorates not affiliated with the ministries of the Kurdistan Regional Government have been sent to the Control Bureau of the Federal Ministry of Finance.[/size]
[size=45]6- The cessation of the Kurdistan Region’s oil exports on November 25, 2023 caused huge losses to the federal treasury, and also caused serious damage to oil companies operating in the Kurdistan Region. The losses of the cessation of the region’s oil exports are estimated at more than 10 billion dollars[/size]
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