SULAIMANI (ESTA) — A delegation from the Kurdistan Regional Government (KRG) will visit Baghdad on Sunday for talks on the implementation of the federal budget law for 2021, a source said on Saturday.
“A delegation from the Region will visit Baghdad tomorrow regarding mechanisms on how to implement the federal budget law between the KRG and the central government,” a source at the KRG Council of Ministers told Esta Media Network.
Meanwhile, member of the Iraqi Council of Representatives Rezan Sheikh Dler said the Region’s share of the budget had yet to be sent to the Region due to a delay in the delegation’s visit to Baghdad to confirm its commitment to the law.
“The delegation might hold talks with the prime minister and ministers of oil and finance,” she told Esta Media Network.
The Iraqi parliament approved the federal budget of 130 trillion Iraqi dinars ($89.65 billion) on March 31.
After months of wrangling, the Kurdistan Regional Government (KRG) and the central government reached an agreement on thorny issues, including oil and non-oil revenues.
Under the 2021 budget law, the Kurdistan Region will be committed to produce 460,000 barrels of oil per day (bpd).
After deducting expenses for production operations in the Region, transport of oil and the domestic consumption of crude oil, the KRG must hand over to Baghdad revenues generated from regional oil exports of 250,000 bpd, according to Iraq’s SOMO pricing, as well as 50 percent of non-oil revenue.
The Kurdistan Region, in return, will receive its share of the budget.
