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2021 budget to pave the way for recovering from economic challenges, Barzani hopes

Category: Iraq News

Date: 2021-03-31T21:12:17+0000
2021 budget to pave the way for recovering from economic challenges, Barzani hopes

Shafaq News/ the President of Kurdistan Regional Government, Masrour Barzani issued on Wednesday a statement just hours after the Iraqi Parliament has approved the 2021 draft federal budget law.

Barzani said, "With the support of the majority of Kurdish parliamentary blocs, the Federal Parliament approved the Budget Law,…we hope that this will pave the way for a recovery from the era of difficult economic challenges in Iraq and the Kurdistan Region."

"I sincerely thank the negotiating team in the Kurdistan Regional Government for their hard work in the recent months. I also thank the Kurdish blocs in the Federal Parliament for their efforts, as this law was a compromise and was necessary for Iraq and the Region… We did not get everything. We seek for it, but this law is in accordance with the main principles of the constitution." He added.

The Prime Minister said, “I spoke today with Prime Minister Mustafa Al-Kadhimi and thanked him for his support….I also stressed the need to fulfill these obligations and send financial dues as soon as possible …. I also reminded him that this country, and the Iraqi people, can achieve the best through working with and through Kurdistan.”

Barzani also spoke with the Kurdish Deputy Prime Minister Qubad Talabani thanking him and the negotiating team for their hard work. 

On the 2021 budget, he stressed "Today, the budget law has restored a glimmer of hope about the relationship with the federal government… I hope that it will contribute more confidence among the citizens of the Kurdistan Region."

Earlier, the Iraqi parliament voted, on Wednesday on the 2021 federal budget law with a deficit of more than 28 trillion dinars.

Based on the new budget, the revenues amounted to more than 101 trillion Iraqi dinars, compared with 106 trillion dinars in 2019, while expenditures were estimated at 129 trillion dinars.

The budget specified the price of a barrel of oil at $45 (1,450 dinars per dollar.)

The Parliament also voted on 12.67 % as the Kurdistan Region’s share of budget (about 10 trillion dinars.)

The Iraqi Parliament voted also to dissolve itself on the 7th of October to conduct the early elections on October 10, 2021.

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