Cutebwoy: A parliamentary committee announces the inclusion of the Kurdistan Region in the petrodollar fund
Shafaq News / The Parliamentary Regions and Governorates Committee announced, on Thursday, that the Kurdistan Region will be included in the petrodollar fund within the general budget law for 2021.
The federal budget, in its version prepared for voting in Parliament, included an increase in the percentage of petrodollars that reached 5 dollars, as well as doubling the allocations for this sector from 500 billion to one trillion dinars, in order to be invested in the advancement of oil-producing provinces.
The head of the committee, Sherwan Al-Dubirdani, told Shafaq News, “The petro-dollar fund was allocated to the oil-producing provinces and the region, but he did not specify the amount, which may be 3-5 dollars per barrel of oil.”
Dubardani added, “The purpose of this fund is to support the southern and central governorates to benefit from the petrodollars, for the purpose of providing services to the people of the province.”
The head of the committee pointed out that “the funds allocated from the petrodollar fund will go directly to the oil-producing provinces and the Kurdistan Region.”
Tishwash: Saeron confirms the presentation of a supplementary budget in the event of continued high oil prices
A member of the Alliance, Ali Al-Lami, confirmed that a supplementary budget will be presented in months, if oil prices remain at their current levels.
Al-Lami said in a statement that Mawazine News received a copy of, that “the current oil prices range from 65-70 dollars per barrel, which are fluctuating and unstable, meaning that they reduce and rise again within hours, but the general situation is that the decrease is not significant.”
Al-Lami added, “If oil prices remain at their current levels, which are higher than the average oil price specified in the budget, after months the government will pay a supplementary budget because it will be an increase in revenues and will be distributed by the House of Representatives, as has been the practice in the past years where oil prices are rising.
He pointed out that “oil prices will remain unstable due to the repercussions of the Corona pandemic for a period of time, especially since its impact is direct and clear in the economies of most countries of the world, but in general, changes in prices, whether the rise or fall will not be significant in the short term