KTFA
CalandLQ » February 3rd, 2025
Hi Family! IMO, I find FA #4999, (Passing of the Budget amendment) to be just what Frank and WS said, but there are some who still don’t seem to understand what’s unfolding right before our eyes. So, to the few, I hope you find the following to be helpful and IMO.
The Iraqi Parliament’s approval of the first amendment to the Federal General Budget Law for the fiscal years 2023-2025 carries significant implications for the country’s citizens.
A key aspect of this amendment is the resolution of longstanding disputes between the federal government in Baghdad and the Kurdistan Regional Government (KRG) regarding oil revenue sharing
Resumption of Oil Exports: The amendment facilitates the resumption of oil exports from the Kurdistan Region, which had been halted since March 2023 due to legal disputes.
Under the new agreement, the KRG will supply 400,000 barrels of oil daily to the State Organization for Marketing of Oil (SOMO), ensuring a structured mechanism for revenue generation and distribution.
Economic Impact: By resolving these disputes and resuming oil exports, the amendment is expected to bolster Iraq’s overall oil production and export capacity. This increase in revenue can enhance the government’s ability to fund public services, infrastructure projects, and social programs, directly benefiting citizens across the country.
Equitable Revenue Sharing: The agreement delineates mutual obligations between the federal and regional governments. While the Kurdistan Region commits to specific oil quotas, Baghdad is mandated to fulfill its financial commitments, ensuring that Kurdistan receives its allocated budget entitlements. This aims to establish stability and transparency in the oil revenue-sharing process, reducing long-standing disputes.
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Political Stability: The successful negotiation and passage of this amendment demonstrate a commitment to cooperation between Baghdad and Erbil. This collaboration can lead to greater political stability, which is crucial for attracting foreign investment, improving security, and fostering a more predictable environment for economic development.
In summary and again all IMO, the amendment’s approval is a positive development for Iraqi citizens, promising economic growth, improved public services, and enhanced political cohesion.
Clare » February 3rd, 2025
Erbil and Baghdad reach a “final agreement” on employee salaries
2/3/2025
The Ministry of Finance in the Kurdistan Regional Government announced, on Monday evening, that it had reached a final agreement with the federal government to resolve the issue of salaries of the region’s employees.
The ministry stated in a statement received by Shafaq News Agency, “After 15 days of continuous work between the technical delegations of the Ministry of Finance in the Kurdistan Region and the Ministry of Finance in the federal government to solve technical problems, implement requests, and prepare tables for the list of salaries of employees, retirees, military personnel, and security forces in Kurdistan, a final agreement was reached on employee salaries for the year 2025.”
She added, “Meanwhile, in a meeting held today, Monday, in the Iraqi Economic Council building, a delegation from the Kurdistan Regional Government met, headed by the Minister of Finance and Economy, Awat Sheikh Janab, and attended by the Chief of Staff of the Council of Ministers in the Kurdistan Region, Omed Sabah.”
She continued, “The Kurdistan Regional Government delegation thanked the Iraqi Prime Minister, Mohammed Shia al-Sudani, the Deputy Prime Minister, Fuad Hussein, the Head of the Kurdistan Regional Government’s Representation in Baghdad, Khalida Hadi Shawshli, and the Minister of Finance in the Federal Government, Taif Sami, for their efforts, assistance, coordination and support to reach an agreement on the dues of the Kurdistan Regional Government employees.”
The ministry indicated that “on the other hand, the Kurdistan Regional Government delegation thanked the Presidency of the Iraqi Council of Representatives and the various blocs in the Iraqi Council of Representatives for their cooperation and support for approving the budget amendment, especially the items related to oil exports.”
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The ministry confirmed that “the technical teams of the Ministry of Finance in the Kurdistan Region are completing the procedures for sending the salaries for the month of January 2025, and it is expected that the amounts will be deposited into the bank account of the Ministry of Finance.”
It is noteworthy that the negotiating delegation of the Kurdistan Region confirmed in all meetings its readiness to continue implementing the obligations that fall on the shoulders of the Kurdistan Region, in order to avoid repeating the problems of last year. LINK
Source: Dinar Recaps
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