KDP Lawmaker: Budget Amendment to Strengthen Relations, Boost Revenues
“A key provision in the amendment includes the establishment of a specialized international advisory committee to determine the cost of extracting oil from KRG-controlled fields.”
Feb. 3, 2025
Erbil (Kurdistan24) – The Iraqi Parliament’s approval of the general budget amendment will enhance ties between the Kurdistan Regional Government (KRG) and the federal government while also increasing national revenues, according to Vian Sabri, Head of the Kurdistan Democratic Party (KDP) Faction in the Iraqi Parliament.
Sabri emphasized that the amendment will have a positive impact on Iraq’s economy. “The vote on the amendment will strengthen relations between the KRG and the federal government, which will serve the oil sector and increase federal revenues while reducing the budget deficit in the federal treasury,” she told Kurdistan24.
According to Sabri, a key provision in the amendment includes the establishment of a specialized international advisory committee to determine the cost of extracting oil from KRG-controlled fields.
Additionally, oil exports from these fields will be conducted through the State Oil Marketing Organization (SOMO) and Ceyhan port, aligning with federal policies.
Sabri expressed her gratitude to the Speaker of Parliament, various parliamentary factions, and the Finance Committee members for their support in passing the amendment.
She also highlighted the importance of continued cooperation between Erbil and Baghdad, stating, “We appreciate the high level of coordination between the federal government and the KRG.”
Looking ahead, Sabri reaffirmed her commitment to furthering legislative achievements and fostering stronger understandings between the two governments.
“We will seek new accomplishments, agreements, and laws that serve the highest public interest in Iraq and the Kurdistan Region,” she concluded.
In a landmark decision, the Iraqi Parliament has approved a critical amendment to the federal budget law, paving the way for the resumption of Kurdistan Region’s oil exports.
The session, held on Sunday, saw 176 members in attendance, with a majority vote securing the amendment’s passage, particularly tackling Article 12, which regulates oil export agreements between Erbil and Baghdad.
Read More: Iraqi Parliament Approves Budget Amendment, Clearing Path for Kurdistan Oil Exports