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[size=30]$25 billion... "unexpected" revenues for Iraq and moves to spend it on "feeding the poor"
2022-04-22
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Yes Iraq: Baghdad
Today, Friday, Minister of Finance Ali Abdul Amir Allawi set the objectives of submitting the emergency food security support bill to the House of Representatives for legislation, while stressing that the region did not deliver its revenues to Baghdad, in return, he indicated that the unexpected revenues that would result from the rise in oil prices would amount to 25 billion. dollars after 6 months.
Allawi said in a speech on the sidelines of the spring meetings of the Bank and the International Monetary Fund in Washington that “presenting the emergency support bill is designed for specific purposes, as citizens suffer from high global commodity prices, which has affected the poor classes,” noting that “what I want from a project The law is to estimate the windfall gains from the rise in oil and distribute them according to need, either through a cash transfer or a food basket.”
He added that "Iraq receives the money from the export of oil three months after the start of the export shipments," noting that "the unexpected gains due to the rise in oil prices amount to 25 billion dollars after six months from now, and this is what was planned in the emergency financing law." .
He pointed out that "the federal government did not receive any cash or account from the Kurdistan region, although it is obligated to pay the revenues of oil exports, customs, fees and other taxes associated with the region, especially customs," noting that "the federal government provided additional amounts to the Kurdistan region after being exposed to its inability last year to pay Pay the civil servant’s salary expenses and we will continue to do so until the accounts are settled between the Kurdistan Regional Government and the Federal Government.”
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