SULAIMANI – The Kurdistan Region’s budget bill for the 2021 fiscal year must be “transparent and realistic,” said Prime Minister of the Kurdistan Regional Government (KRG) during a cabinet meeting on Tuesday (March 9).
The meeting of Council of Ministers, which was chaired by the KRG Prime Minister Masrour Barzani, comes after an initiative by Iraq’s prime minister which called for “national dialogue” to settle the prolonged budget dispute between Erbil and Baghdad.
“The Prime Minister expressed his hope that the Iraqi parties would welcome the initiative of the Iraqi Prime Minister, Mustafa al-Kadhimi, with the aim of reaching a final and comprehensive solution to the problems between the Kurdistan Region and the federal government,” the KRG said in a statement.
Amid ongoing arrangements for drafting its budget law for 2021, the Kurdistan Region is expecting a session by the Iraqi parliament next week to determine its budget share.
“The meeting stressed the importance of preparing a budget bill that takes into account all the possibilities and guarantees it a realistic and transparent budget that depends on oil and non-oil revenues in addition to the financial deficit and actual expenditures, with the aim of enhancing transparency in public finances in the Kurdistan Region,” the KRG said.
The Kurdistan Regional Government (KRG) and the federal government have been in long-running negotiations regarding the amount of oil or in-kind and a portion of non-oil incomes it should submit to the federal authority to receive its budget share in return.
But contentious issues in the draft-budget law are yet to be addressed between the Iraqi federal government and the Kurdistan Region.