Since oil exports halted, Kurdistan Region's provincial development budget hasn’t been spent: Ministry of Planning

The statement also added that it has always been the policy of Iraqi Prime Minister Mohammed Shia al-Sudani to support local governments.
The headquarters of the Iraqi Ministry of Planning. (Photo: The Iraqi Ministry of Planning)
The headquarters of the Iraqi Ministry of Planning. (Photo: The Iraqi Ministry of Planning)

ERBIL (Kurdistan24) – The Iraqi Ministry of Planning announced on Saturday that since oil exports were halted, the Kurdistan Region's provincial development budget has not been spent.

The statement also added that it has always been the policy of Iraqi Prime Minister Mohammed Shia al-Sudani to support local governments.

“Due to the suspension of oil exports and the decision of the Iraqi Federal Supreme Court, the 2.7 trillion-dinar budget allocated for the development of the Kurdistan Region provinces has not been spent,” the statement read.

Media reports on the financial entitlements of the provincial development budget and the total investment expenditure of the Kurdistan Region are inaccurate, according to the Iraqi Ministry of Planning.

Iraq has lost $11 billion in revenue and $400 million in investments by APIKUR member companies following the suspension of oil exports from the Kurdistan Region through the Iraq-Turkey pipeline.

Despite the readiness of the Turkish and Kurdistan Regional Governments (KRG), Iraq is still not ready to resume oil exports.