April 8, 2021 | finance & economy

KRG ready to abide by budget commitments: PM Barzani


ERBIL, Kurdistan Region —The Kurdistan Regional Government (KRG) is ready to adhere to its commitments in the recently-passed budget bill, Prime Minister Masrour Barzani said on Wednesday, also calling on the federal government in Baghdad to send funds to Erbil for the first three months of the year.

'Passing of the bill is an achievement for all Iraq and Kurdistan,” he said in a press conference following a meeting with the Council of Ministers.

“In normal circumstances this should not have been considered as an achievement but rather something normal, however the topic was politicized.”

The budget bill, approved by the Iraqi Council of Ministers in December, took more than three months to be passed by Iraq’s parliament. It was finally put to a vote on March 31. Under the law, the Kurdistan Region will hand over revenues of no less than 250,000 barrels of oil per day at state-regulated prices to Baghdad in exchange for federal funds.

'The KRG is ready to fulfill all responsibilities as part of this budget,” he added, calling on the federal government to “perform its duties” and send the funds owed for January, February and March.

Kurdish and Iraqi leaders alike have voiced hope that the passage of the bill will lead to better Erbil-Baghdad relations, with the end of months of financial disputes.

“Let’s be optimistic about the Iraqi budget. I urge the federal govt to deliver its obligation under the new law. It will not address all of our disputes, but it is a strong basis to tackle the remaining issues,” the Kurdish PM tweeted on Wednesday.

Barzani also added that a draft of the new KRG budget is being prepared to be sent to the Kurdistan Region parliament.

“This budget was an compromise — it doesn’t address all the hopes of either party. Our principal win is the continued protection and reinforcement of our constitutional rights,'.

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