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Stopping oil exports is hard on Kurdistan.. How much has its monthly revenues declined?
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Baghdad today - Kurdistan
Today, Monday (July 17, 2023), a high-ranking official source in the Ministry of Finance and Economy of the Kurdistan Government revealed that the region's monthly financial revenues have declined significantly after the decision to stop oil exports.
The source told "Baghdad Today," that "the Kurdistan region's monthly financial revenues declined by about 83 percent after the cessation of its oil exports," pointing out that "the internal monthly imports were unable to pay and secure its monthly expenses."
He explained that "the regional government entered the stage of financial deficit in paying the salaries of its employees after the decline in its monthly revenues, and this may lead it to reach an understanding with the federal government in various ways in order to send salaries and not delay them monthly."
According to observers in the economic affairs, the halt in exports during that period caused losses estimated at "one billion dollars", as oil has been the economic lung of the region for more than a decade, which was exporting 475,000 barrels per day through the Turkish port of Ceyhan.
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