The Iraqi budget
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Shafaq News / The Kurdistan Regional Government published, on Thursday, a number of documents that it said belong to negotiations with the federal government, regarding oil, border crossings revenues and the region’s entitlements from the federal budget.
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The deputy head of the regional government, Qubad Talabani, announced on 22.12.2020 to reach an agreement with the federal government regarding the region’s share in the federal budget for 2021, after rounds of negotiations.
The Iraqi government approved the 2021 budget of 150 trillion dinars (about $ 103 billion), with a total deficit of 63 trillion dinars (about $ 43 billion), to be discussed in the Iraqi parliament early next week.
In April, the previous government headed by Adel Abdul Mahdi stopped paying the region’s monthly salaries of 453 billion Iraqi dinars (about 380 million dollars), because the region had not delivered its oil to Baghdad.
Baghdad and Erbil reached an agreement at the end of 2019, stipulating that the Kurdistan Region will hand over its oil to the government company, SOMO, as of the beginning of 2020, at a rate of 250 thousand barrels per day, in exchange for the region’s share in the federal budget.