Budget passes despite Kurdish boycott
With the controversial approval of Iraq's 2013 budget, which allocates just $625 million for KRG oil contractors, Kurdish leaders say it's time for economic independence.
Members of the Iraqi Parliament meet for a session in 2010. (SEBASTIAN MEYER/Metrography/Iraq Oil Report)
BAGHDAD/ERBIL - Legislators aligned with Prime Minister Nouri al-Maliki forced passage of Iraq's $118 billion 2013 budget Thursday, despite a boycott by MPs from the semi-autonomous Kurdistan region and the Iraqiya bloc.
The new budget allocates just $625 million for oil companies working under contracts with the Kurdistan Regional Government (KRG), even though the Kurds had requested $3.5 billion. The budget law, which was first approved by the Cabinet in October, stalled in Parliament for months over the KRG export and payment issue.
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