Shafaq News / The Kurdistan Regional Government delegation participating in preparing the drafts of the federal financial budget laws for the years (2021-2023) stressed the need to reach a political agreement between Erbil and Baghdad to resolve all differences and outstanding issues between the two sides.

Member of the delegation, Undersecretary of the Ministry of Planning in the region, Zagros Fattah, said in a statement today, Tuesday, that the region’s delegation met with the supreme committee concerned with preparing budgets for the years (2021-2023), indicating that the goal of the Kurdistan delegation’s participation in those meetings is to establish the necessary technical matters for the region in the financial budgets for the coming years.

Fattah explained that the delegation's responsibility to meet with the relevant ministries and departments in the federal government and to estimate the revenues generated from sources of income to determine the needs of the Kurdistan Region.

"The delegation informed Iraqi officials of the necessity of concluding a political agreement between Erbil and Baghdad on several issues (oil, port revenues, and taxes) to determine the region's dues in the budget", He said. 

Fattah added, "the Kurdistan Region's share of investment budgets must be spent in the financial budgets for the coming years".

He also revealed at a meeting yesterday, the price of one barrel in the 2021 budget was estimated at 43 dollars, and for the years 2022 and 2023 at 46 dollars per barrel of crude pointing that, "during the meeting, we stressed the need to determine the shares of the governorates of the Kurdistan region at a time when these quotas were neglected in the previous year's budgets", 

Last Sunday, Fattah said in a press statement that the Iraqi Ministry of Finance held a meeting and discussed the proposal of the International Monetary Fund and the International Central Bank to change the budget system from a one-year budget to a three-year budget.