SULAIMANI – The Kurdistan Regional Government (KRG) has allocated 434 billion Iraqi Dinar (nearly $297.6m US Dollar) for projects in the provinces of Duhok, Sulaimani, Halabja and Erbil between 2019-2021, Department of Media and Information said on Tuesday (May 25).
The data showing expenditures came in the absence of a budget law. KRG’s Ministry of Finance and Economy said May 11 that it had approved the Kurdistan region’s draft budget law for 2021, first in eight years, pending the parliament's approval.
Sulaimani was the most beneficiary province from the KRG’s allocations with over 193 billion provided for the projects implemented between 2019-2021, according to the Department of Media and Information.
Oil revenues still dominate sources of revenue, projected at over 90% of the KRG’s finances.
Out of the 434 billion Iraqi Dinar, a total of 141,600,000,000 spent for Erbil’s projects, 86.8 billion for Duhok and 12.5 billion for Halabja.
The KRG has not had a budget law since 2013. The KRG’s 2013 budget bill, after subtracting sovereign and governance costs, was based on its 16.9 trillion dinars of income – 14.4 trillion of which was from its budget share in Baghdad.
KRG depends on oil ales for most of its revenue as well as cash transfers from Baghdad to pay public sector employees and conduct infrastructure projects.