The Minister of Finance in the Kurdistan Regional Government Awat Sheikh Janab on Thursday announced the delivery of the federal government in Baghdad 250 thousand barrels of crude oil per day, in the first time since 2014.
“We have decided to deliver 250,000 barrels of oil per month per month to Baghdad,” Sheikh Janab said at a joint news conference with provincial council secretary Amang Rahim and chief of the provincial council of ministers Omid Sabah.
He added that “we have agreed on a formula on the payment of loans,” adding that “most of the demands of the Kurds have been confirmed.”
He pointed out that “we reached an agreement with Baghdad on the budget and oil,” pointing out that “reducing the share of the Kurdistan region in the financial budget was a political decision unfortunately.”
“Our negotiations this time with Baghdad have been successful,” he said, stressing that “if Baghdad abides by the agreement, there will be no problems with the payment of salaries.”
He continued that “the ball is now in the court of the Iraqi parliament in relation to the budget,” stressing that the Kurdistan region will abide by the agreement we reached with Baghdad.
For his part, Secretary of the Council of Ministers of the Kurdistan Region Amang Rahim that the region will contribute to raise financial revenues for Iraq in accordance with the agreement reached with the federal government on the budget and oil.
Rahim added that the federal budget for 2020 is still in the process of legislation.
He said that the Kurdistan region will contribute to increase financial revenues for Iraq in accordance with the agreement reached with Baghdad, stressing that the recent agreement is in the interest of both sides.
He added that “Iraq borrowed 62 billion dollars and part of it has nothing to do with the Kurdistan region.”
He pointed out that the region will provide Baghdad with information about the debt of the Kurdistan region, noting that the debt of the region will be installed in the financial budget for next year.
Rahim said there was an understanding between Arbil and Baghdad about the debt