A member of the Finance Committee in the Parliament of the Kurdistan Region Izzat Saber on Saturday that the region has two options, not the third on the reduction of the government and the Federal House of Representatives share of the Kurds to 12.6 of the financial budget for 2018.
Saber told Ashqaf News that “the Council of Ministers in the region will meet on Sunday to discuss the options of the first acceptance of the approved by Baghdad and give the federal government 250 thousand barrels of oil per day or resort to non-acceptance and the adoption of the region on its own revenues from the sale of oil independently to the world markets to subsidize His needs and I think the second option is the closest. “
He explained that “the percentage approved by Baghdad will cause a deficit within the Kurdistan Region and will cause great harm to citizens and investment projects or operating expenses, especially that the proportion of sovereign expenditures constitute a large proportion of the total budget and after the deduction will benefit neither the region nor its citizens of the remaining share of 7% .
The Iraqi Council of Representatives had voted on the budget of 2018 financial boycott of Kurdish blocs because of the reduction of the share of the Kurdistan region to 12% after it was in the years after the fall of the former regime 17%.
The revenues of the general budget are estimated at (91643667236) thousand dinars (ninety nine trillion six hundred and forty-three billion six hundred and sixty seven million and two hundred and thirty-six thousand dinars). The estimated revenues from the export of crude oil were calculated on the basis of the average price of 46 dollars per barrel at an export rate of 3 million Eight hundred and eighty-eight thousand barrels per day, including 250 thousand barrels per day from the Kurdistan region.
The budget allocations amounted to (104158183734) thousand dinars (one hundred and four trillion and one hundred and fifty-five billion one hundred and eighty-three million and seven and thirty-four thousand dinars), while the total budget deficit budget (12514516498) thousand dinars (twelve trillion five hundred and fourteen billion five hundred and sixteen million And four hundred and ninety-eight thousand dinars).