Iraq to send 400 billion dinars to KRG for employee salaries
He also said that until the approval of the budget by the Iraqi parliament, this fund will continue to be sent to the Kurdistan Region employees.
ERBIL (Kurdistan 24) – Fars Issa, head of the Kurdistan Regional Government (KRG) representative in Baghdad, told Kurdistan 24 that the Iraqi Council of Ministers today decided to send 400 billion dinars for the Kurdistan Region monthly employee salaries.
He also said that until the approval of the budget by the Iraqi parliament, this fund will continue to be sent to the Kurdistan Region employees.
PM Barzani visited Baghdad on April 4 and signed a new interim deal. This would allow the Kurdish region to export oil to Turkey’s Ceyhan port. After the Paris-based International Court of Arbitration ruling, in which Iraq claimed victory in a legal challenge against Turkey, oil exports were halted. Following the signing ceremony in the Iraqi capital, PM Barzani and Iraqi Prime Minister Mohammed Shia’ Al-Sudani held a joint news conference to announce the new deal.
Per the new deal, the Iraqi state-owned marketing company, SOMO, will market and export 400,000 bpd of Kurdish crude oil at market prices.
Kurdish oil sales revenue will be deposited in a Central Bank of Iraq (CBI) account owned by the KRG and monitored by Baghdad, according to the agreement.
The Iraqi government spokesperson, Basim Alawadi, previously announced that the budget proposal estimates oil revenues at 117.3 trillion Iraqi dinars while non-oil revenues will be 17.3 trillion Iraqi dinars.
The total proposed expenditure amounts to nearly 198 trillion Iraqi dinars, while investment projects are estimated at 47.5 trillion Iraqi dinars.