Shafaq News / The Kurdistan Regional Government (KRG) expected, on Wednesday to reach an “imminent” agreement with the federal Government for its share in the 2021 financial budget.

"Discussions are continuing with Baghdad regarding the Region's share in the budget ... We expect to reach an agreement soon ... not only to secure the salaries of employees, but to offer job opportunities for young and recent graduates," Government spokesman Gutiar Adel said in a press conference today.

Adel added that "if necessary, KRG delegation will head to Baghdad again…the political parties must take into account that failing to reach an agreement will affect the whole Iraq and not only the Kurdistan Region."

In December 2020, Iraq’s cabinet approved a 2021 draft budget of 150 trillion Iraqi dinars ($103 billion) as the country wrestles with an economic and financial crisis due to low crude prices.

The draft 2021 budget is based on a world oil price of $42 a barrel and expected oil exports of 3.25 million barrels per day (bpd), including 250,000 bpd from the Kurdish region.

So far, KRG delegation met with the federal Government officials many times to settle this issue without any firm decision.