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[size=38]Federal Finance acknowledges that the region is not obligated to pay any amounts into its account[/size]
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October 18, 2023[You must be registered and logged in to see this link.]
Baghdad/Al-Masala Al-Hadath: Finance Minister Taif Sami said that the Kurdistan Region did not commit to depositing any amounts into its account.
The Finance Committee stated in a statement received by Al-Masala, that under the guidance of the Presidency of the House of Representatives, the Finance Committee held an expanded hearing based on the oversight aspect, during which it hosted the Federal Minister of Finance, Taif Sami, the Minister of Finance and Economy in the Kurdistan Region, Awat Sheikh Jah, and the Kurdish delegation to follow up on the implementation of the instructions of the budget law. Federal public, oil and non-oil revenues in the region, in addition to the file of loans granted.
Sami explained that the Ministry works in accordance with the Financial Management Law and the Federal Budget in financing and implementing projects, indicating the opening of an account on the basis of which the region is obligated to deposit revenues as it represents the region’s treasury, but no sums of money have been deposited in it, reviewing the Ministry of Finance’s procedures regarding the details. Related to the region’s specific articles within the Federal Budget Law.
The Kurdistan Region’s failure to deposit any amounts into its account, as well as its refusal to pay oil imports to the federal government in Baghdad, is due to the ongoing dispute between the central government and the Kurdistan Regional Government regarding the export of oil and its share of the general budget.
The Kurdistan region demands the right to export its oil almost independently, while the central government rejects this and demands that the region hand over its oil production to Baghdad in exchange for its share of the general budget.
In previous years, the Kurdistan region decided to export its oil independently, which led to the outbreak of a conflict between the central government and the region. This conflict led to the Kurdistan Region not receiving its full share of the general budget, which affected its ability to pay the salaries of its employees.
In 2023, the Kurdistan Region announced that it would renegotiate with the central government regarding oil exports and its share of the general budget. This has revived hopes for resolving the dispute, but no agreement has been reached so far.
The continued dispute between the central government and the Kurdistan Regional Government regarding the export of oil and its share of the general budget negatively affects the Iraqi economy, and leads to delayed salaries of Kurdistan Region employees.
The continuation of the dispute leads to a decline in the central government’s oil revenues. Increased political tensions and weak stability in Iraq.
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