Politics

KRG Cabinet Discusses Financial Reforms, Oil Export Resumption

The meeting underscores the KRG’s ongoing efforts to implement financial reforms, enhance budgetary discipline, and secure economic stability.

A photo of the meeting of the Council of Ministers chaired by Prime Minister Masrour Barzani. (Photo: KRG)
A photo of the meeting of the Council of Ministers chaired by Prime Minister Masrour Barzani. (Photo: KRG)
Kurdistan KRG Council of Ministers PM Masrour Barzani Salary Payments Kurdistan Region oil exports Resumption of KRG's Oil Exports

Feb. 5, 2025

ERBIL (Kurdistan24) – The Kurdistan Regional Government’s (KRG) Council of Ministers is scheduled to convene on Wednesday, under the leadership of Prime Minister Masrour Barzani.

The Deputy Prime Minister Qubad Talabani is also attending the meeting.

The meeting is set to address critical issues related to the region’s financial structure, budget management, and the resumption of Kurdistan’s oil exports, signaling a pivotal moment in the region’s economic policy.

Financial Stability and Budget Planning

One of the primary agenda items is a comprehensive discussion on the Kurdistan Region’s financial framework, with a focus on restructuring revenues and expenditures to ensure greater fiscal responsibility.

The Council will deliberate on five key financial aspects:

  1. Reorganization of Financial Status – Streamlining revenues, expenditures, staffing, and the overall public employment sector.
  2. Employment and Budgeting for 2025 – Approving and formalizing the number, ranking, and associated expenses of all KRG employees for the 2025 fiscal year.
  3. Pension Transfers and Military Entitlements – Endorsing procedures for the transfer of pensions for Peshmerga forces, internal security units, and the families of martyrs and Anfal victims to the General Directorate of Pensions within the Ministry of Finance.
  4. Expenditure Management – Enforcing strict limits on operational and investment expenditures to maintain fiscal discipline.
  5. Digitalization of Payroll System – Enhancing transparency through the digitization of salary records and a comprehensive review of financial balances.

Oil Export Resumption and Revenue Allocation

The Council of Ministers is also set to discuss the significance of an amendment to Article 12 of the Federal General Budget Law, facilitating the resumption of the Kurdistan Region’s oil exports.

This decision is expected to stabilize economic conditions and bolster the region’s financial autonomy amid ongoing negotiations with Baghdad.

Additionally, discussions will be held regarding the reorganization of domestic revenues, determining the share allocated to various ministries, and outlining procedures for transferring the Kurdistan Region’s financial obligations to the federal treasury.

Strategic Economic Measures

The meeting underscores the KRG’s ongoing efforts to implement financial reforms, enhance budgetary discipline, and secure economic stability.

With digital transformation initiatives in payroll systems and the resumption of oil exports, the government aims to foster transparency and efficiency in governance.

These steps are expected to play a crucial role in ensuring long-term economic sustainability for the Kurdistan Region.

As the KRG continues to navigate fiscal challenges, today’s discussions mark a decisive step towards greater financial responsibility and economic resilience, reflecting the government’s commitment to advancing structural reforms in the region.