Baghdad and Erbil claim progress toward budget implementation

ERBIL - The Iraqi federal government and the Kurdistan Regional Government (KRG) have reached a preliminary framework agreement on implementing the federal budget law, which requires Erbil to hand over oil to Baghdad in order to qualify for a share of state revenue.

Omed Sabah, the president of the Diwan of the KRG Council of Ministers, said in a statement Thursday that negotiations on July 26 had resulted in “a mutual agreement on the implementation of the articles of the budget related to the Kurdistan Region. A memorandum of understanding has been signed, and within that framework, the KRG’s financial entitlements are expected to be released immediately.”