BAGHDAD EXPECTED TO TRANSFER NEARLY 1 TRILLION IQD TO ERBIL MONTHLY
SULAIMANI — The government of Iraq is expected to send nearly one trillion Iraqi dinars ($838 million) per month to the Kurdistan Region in 2020 after Baghdad and Erbil reach agreement over oil exports and budget, a parliamentarian said.
Coordinator of Financial Committee at the Iraqi parliament Ahmed Safar said the federal government would transfer the total share of the region from the budget for fiscal year 2020 after Erbil exported 250,000 barrels of oil per day through Baghdad.
“Next year will be different for the Kurdistan Region because it hands over the oil,” he told Kurdistan Democratic Party (KDP)-affiliated media on Wednesday (November 27).
“Baghdad is expected to transfer nearly 1 trillion dinars to the Kurdistan Region according to the budget which Iraq has for the next year,” he added.
The Kurdistan Regional Government (KRG) and the federal government reached an agreement to resolve their ongoing disagreement over oil on Monday.
The Kurdistan Region is expected to export 250,000 barrels of oil per day through Baghdad to Turkey’s Cihan port in return Baghdad will send the region’s share from the federal budget for 2020.
A Kurdish delegation is expected to visit Baghdad next week to discuss the Kurdistan Region’s share from the federal budget, according to authorities.
Oil is just one of several persistent disagreements between the two governments, which also include security and the disputed areas.
(NRT Digital Media)