KRG Discusses Oil Exports and Budget Crisis

The Kurdistan Region Council for Oil and Gas Affairs met on Wednesday with the five political parties of the Kurdistan Regional Government, KRG.

Recent developments regarding oil and budget issues between the KRG and the Iraq Federal Government were discussed.

It was reaffirmed that the KRG has been abiding by the December agreement with Baghdad and the Iraq Federal Budget Law 2015, while the Iraqi federal government has not been fulfilling its obligations.

The meeting agreed on the following points:

  1. KRG aims to settle its differences with Baghdad through dialog and negotiations based on the Iraqi Federal Budget Law No. 2 of 2015, as it is in the interest of both the Kurdistan Region and Iraq.
  2. If the Federal Government does not abide by the Federal Budget Law, the KRG will be obliged to pursue other legal solutions to solve Kurdistan Region’s financial difficulties and provide the Region’s people with security and other basic necessities in light of Law No 5 of 2013 of the Kurdistan Parliament.
  3. The political parties in the Kurdistan Region support any measure that the KRG will take to ease its financial and economic difficulties and ensure people’s security and income, particularly at this time when fighting terrorism and accommodating a very large number of displaced people have heightened the burden on the Kurdistan Region.
  4. In taking whatever measures, necessary to ease the Region’s financial crisis, the KRG remains open to resolving its differences with the Iraqi Federal Government through dialog and negotiations. The KRG does not desire to break its relations with Baghdad, as Iraq is of significant political, geographical, and economic importance to the Kurdistan Region.

(Source: KRG)

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