KRG transfers +$53 million in non-oil revenue to Baghdad

Shafaq News/ The Ministry of Finance and Economy of the Kurdistan Regional Government (KRG) announced, on Monday, the transfer of over 70 billion IQD to the federal treasury in Baghdad as non-oil revenues for March 2024.

The ministry stated, "An amount of 70,131,250,000 IQD (approximately $53,559 million) has been transferred to the bank account of the Iraqi Ministry of Finance as part of the federal treasury's share of non-oil revenues from the Kurdistan Region for March."

On May 27, 2024, KRG's Ministry of Finance and Economy reported the deposit of 85,199,634,000 IQD (approximately $58 million) from the Region's internal revenues for February 2024 into the federal government's account at the Central Bank of Iraq-Erbil branch. This amount represented 50% of the Region's tax and customs revenues for February.