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For the first time, including the dues of oil companies in the Kurdistan region’s budget

The Ministry of Finance and Economy in the Kurdistan Regional Government announced, on Sunday, that the region’s draft budget for the current year will include financial receivables for oil companies, extraction, export and sales disbursements for the Ministry of Natural Resources.

According to a statement by the Kurdistan Regional Government’s Ministry of Finance and Economy received by Shafaq News, according to the decision of the Kurdistan Regional Council of Ministers, with the aim of preparing the drafting of the Kurdistan Region Budget Law in 2021 and within the framework of the Ministry of Finance and Economy plan in this regard, the Ministry will hold a number of meetings with all ministries.

He added that the first of these meetings was a meeting with the Ministry of Natural Resources, as the meeting took place on Sunday morning at the Ministry of Finance and Economy office under the supervision of Minister Awat Sheikh Janab.

The statement indicated that the Kurdistan Region’s budget will be a comprehensive budget and all ministries and agencies will have revenues and expenditures, general loans and deficits within the framework of the draft budget, indicating that in this context, for the first time in the Kurdistan Region, the budget will include revenues and expenditures (financial dues to oil companies, extraction, export and sale of oil). At the Ministry of Natural Resources. Source