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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Will the budget hit the political agreement between Baghdad and Erbil?

    Rocky
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    Will the budget hit the political agreement between Baghdad and Erbil? Empty Will the budget hit the political agreement between Baghdad and Erbil?

    Post by Rocky Fri 26 May 2023, 4:39 am

    Will the budget hit the political agreement between Baghdad and Erbil?
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    Baghdad today - follow-up
    Today, Friday, economic expert Nabil Al-Marsoumi revealed the most important amendments to the 2023 budget with regard to the Kurdistan region.
    Al-Marsoumi said, in a clarification received by (Baghdad Today), that "the Parliamentary Finance Committee voted on several amendments related to Kurdistan, including:
    First: Article 13, secondly, has been amended, as Kurdistan is committed, according to the government version of the budget, to export no less than 400,000 barrels per day, while this paragraph, after the amendment, provides for the region’s delivery of crude oil produced in its fields at a rate of not less than 400,000 barrels per day to the Ministry Oil to be exported through SOMO or used locally in Iraqi refineries. This amendment has added a kind of complication to the relationship between the center and the region because of the technical difficulties related to the delivery of the region's oil to the center on the one hand, and because of the stripping of the center of the authority to export oil on the other hand.
    Second: Paragraph C of the same article was amended, which stipulated the commitment of the Ministry of Finance to pay the region’s dues monthly and to make accounting settlements on a quarterly basis, meaning that the region was receiving its dues in the 2023 budget before the oil was delivered, but in the new amendment, the region was obligated to pay its oil and other revenues oil before receiving its share of the budget.
    Third: Article 14 was amended first, which stipulated that the total revenues of the region's oil be deposited in one bank account, and after the amendment, the region became obligated to deposit oil revenues in a bank account opened in the Central Bank of Iraq in Jin. The region was seeking to open the account in Citibank.
    Fourth: Preventing the region from extracting oil from the fields of Kirkuk and Nineveh, which are currently under the control of the Kurdistan government, which currently constitutes more than a third of the region's production of crude oil.
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