Baghdad hikes monthly payment to Kurdistan
With an infusion of federal money under the newly enacted 2019 budget, the KRG is lifting austerity measures and returning to the days of financial dependence on Baghdad.
Adil Abd al-Mahdi (L) meets with Nechirvan Barzani on Nov. 13, 2014. (STRINGER/Reuters)
ERBIL - Iraq's federal government has roughly doubled the amount of its monthly transfer to the autonomous Kurdistan Regional Government (KRG) — a sign of a deepening relationship of interdependence between Baghdad and Erbil.
Future payments are not guaranteed to remain so high. The 2019 budget law calls on the KRG to contribute 250,000 barrels per day (bpd) of its independently managed oil production to the federal government's exports - and if it fails to do so, there could be financial penalties.
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