Economy News – Baghdad
On Wednesday, the Kurdistan government reaffirmed its commitment to implementing amendments to the budget law, facilitating the export of the region’s oil through SOMO, and ensuring that revenues are directed to the Federal Ministry of Finance.
A statement from the Presidency of the Council of Ministers of the Kurdistan Region indicated that the Speaker of the Council, Masrur Barzani, convened a meeting alongside his deputy, Qubad Talabani. During this session, the Prime Minister instructed the Ministry of Finance and Economy to develop a schedule for the distribution of salaries for February, following the deposit of 958 billion dinars into the ministry’s account for this month.
The Council has resolved to commence salary distributions starting tomorrow. Furthermore, all ministries and institutions are urged to expedite the preparation of salary lists for March, aimed at disbursing them ahead of the forthcoming Eid Al-Fitr holiday.
In the initial segment of the meeting, Kamal Mohamed Saleh, the Acting Minister of Natural Resources, provided insights into the latest developments from the joint discussions between the Ministry of Natural Resources and the Federal Oil Ministry, attended by representatives from oil companies.
The minister noted ongoing efforts to resume oil exports from the region in alignment with the federal budget law. The Council commended the Ministry of Natural Resources for its initiative to expedite the reestablishment of oil exports and for collaborating closely with the Iraqi Ministry of Oil to address existing challenges.
The Council firmly reiterated the regional government’s position on implementing the budget law amendments, ensuring that the region’s oil is exported and sold through SOMO, with the revenues returning to the Federal Ministry of Finance.
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