A parliamentary committee announces the inclusion of the Kurdistan Region in the petrodollar fund

Economy

Kurdistan Region

Oil

The Iraqi budget

Petrodollars

2021-03-25 06:37

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Shafaq News / The Parliamentary Regions and Governorates Committee announced, on Thursday, that the Kurdistan Region will be included in the petrodollar fund within the general budget law for 2021.

The federal budget, in its version prepared for voting in Parliament, included an increase in the percentage of petrodollars that reached 5 dollars, as well as doubling the allocations for this sector from 500 billion to one trillion dinars, in order to be invested in the advancement of oil-producing provinces.

The head of the committee, Sherwan Al-Dubirdani, told Shafaq News, “The petro-dollar fund was allocated to the oil-producing provinces and the region, but he did not specify the amount, which may be 3-5 dollars per barrel of oil.”

Dubardani added, “The purpose of this fund is to support the southern and central governorates to benefit from the petrodollars, for the purpose of providing services to the people of the province.”

The head of the committee pointed out that “the funds allocated from the petrodollar fund will go directly to the oil-producing provinces and the Kurdistan Region.”

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