ERBIL, Kurdistan Region - Iraq’s planning ministry on Saturday announced that the Kurdistan Region’s share of federal investment funds is 4.8 trillion dinars ($3.67 billion).
“The total investment expenditure allocated for the Kurdistan Region amounts to 4.875 trillion dinars. The ministry affirmed the government's commitment to the proportion allocated to the Kurdistan Region in all areas of expenditure,” read a statement from the planning ministry.
The total investment expenditure for provinces across central and southern Iraq, apart from the Kurdistan Region, amounts to 41 trillion dinars. An additional 2 trillion dinars have been allocated for conflict-affected areas such as Shingal and Dhi Qar province, as well as funds to support poorer provinces.
Iraqi Prime Minister Mohammed Shia’ al-Sudani and his cabinet last week finalized a draft budget bill that seeks to increase spending for 2024. In June 2023, Iraq passed a three-year budget that included a record $152 billion in spending, of which the Kurdistan Region’s share is 12.6 percent.
Federal budgets routinely require intense negotiations between Erbil and Baghdad. The cash-strapped Kurdistan Regional Government (KRG) has repeatedly accused Baghdad of not making regular payments of its share of federal funds. Baghdad has claimed it has fully implemented its financial obligations to the KRG.
The two governments are on better terms now compared to the previous year, particularly about payment of the Region’s civil servant salaries.
Last week, a delegation from the Kurdistan Region attended meetings of the committee responsible for budget amendments. After their return, they said in a statement that changes will be made in such a way that the rights of the Kurdistan Region are protected.
“The total investment expenditure allocated for the Kurdistan Region amounts to 4.875 trillion dinars. The ministry affirmed the government's commitment to the proportion allocated to the Kurdistan Region in all areas of expenditure,” read a statement from the planning ministry.
The total investment expenditure for provinces across central and southern Iraq, apart from the Kurdistan Region, amounts to 41 trillion dinars. An additional 2 trillion dinars have been allocated for conflict-affected areas such as Shingal and Dhi Qar province, as well as funds to support poorer provinces.
Iraqi Prime Minister Mohammed Shia’ al-Sudani and his cabinet last week finalized a draft budget bill that seeks to increase spending for 2024. In June 2023, Iraq passed a three-year budget that included a record $152 billion in spending, of which the Kurdistan Region’s share is 12.6 percent.
Federal budgets routinely require intense negotiations between Erbil and Baghdad. The cash-strapped Kurdistan Regional Government (KRG) has repeatedly accused Baghdad of not making regular payments of its share of federal funds. Baghdad has claimed it has fully implemented its financial obligations to the KRG.
The two governments are on better terms now compared to the previous year, particularly about payment of the Region’s civil servant salaries.
Last week, a delegation from the Kurdistan Region attended meetings of the committee responsible for budget amendments. After their return, they said in a statement that changes will be made in such a way that the rights of the Kurdistan Region are protected.
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