Kurdistan Regional Government (KRG) President Nechirvan Barzani welcomes the Iraqi Parliament’s recent vote on the amendment to the federal budget law.
In a statement issued on February 3, Barzani expressed optimism regarding this legislative development, stating, “We hope that this step marks the beginning of addressing other pressing issues, especially concerning the resolution of salaries and financial entitlements for the Kurdistan Region.”
The amendment introduces specific regulations on KRG’s oil production, stipulating a production cost of $16 per barrel. Under the new regulations, the Kurdistan Region is mandated to deliver 400,000 barrels of oil per day, aligning its output with estimated international price conditions.
President Nechirvan Barzani expressed gratitude to the Iraqi House of Representatives for their role in the amendment’s preparation and approval. He particularly acknowledged President Mohammed Shia al-Sudani’s support, which has been instrumental in advancing the negotiations surrounding budgetary allocations and salary entitlements for the Kurdistan Region.
“This development represents a significant step forward and is expected to yield benefits for the Kurdistan Region as well as the entirety of Iraq,” Barzani added. He emphasized his commitment to further dialog and constructive engagement in resolving ongoing financial issues.
Barzani reaffirmed the KRG’s intention to pursue resolutions through diplomatic means, aiming for a comprehensive solution to the concerns over salaries and financial allocations. He expressed hope that this legislative amendment would facilitate timely and effective solutions to the challenges faced by the Kurdistan Region.
Nechirvan Barzani
President of the Kurdistan Region
February 3, 2025
