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Mubasher: Iraqi Finance Minister Ali Abdul Amir Allawi said today, Friday, that the gains from the rise in oil prices amount to $25 billion six months from now.
And the minister explained - in a speech on the sidelines of the spring meetings of the Bank and the International Monetary Fund in Washington, which was reported by the Iraqi News Agency (INA) - that work will be done to estimate the gains from the rise in oil and distribute them according to the need, either through the cash transfer or the food basket.
Allawi stressed the importance of the draft law on emergency support for food security submitted to the House of Representatives for legislation, in light of the rise in global commodity prices, which had an impact on the poor classes.
The minister stated that the emergency support bill is designed for specific purposes, in light of the rise in global commodity prices, explaining that Iraq receives the funds from the export of oil three months after the start of export shipments.
He stressed that the federal government in Baghdad has not received any payments 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.
He pointed out that the federal government provided additional amounts to the Kurdistan region after its inability last year to pay the salaries of civil servants, stressing that it will continue until the accounts are settled between the Kurdistan Regional Government and the federal government.
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