Baghdad and Erbil claim progress toward budget implementation
Key details remain unresolved, including the lynchpin issue of whether oil companies will get paid enough to enable KRG fields to restart.
Iraqi Prime Minister Mohammed Shia al-Sudani (left) meets with KRG President Masrour Barzani (right) in Erbil on March 14, 2023. (Photo credit: Prime Minister's Office)
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.”
This content is for registered users. Please login to continue.
If you are not a registered user, you may purchase a subscription.
If you are not a registered user, you may purchase a subscription.
