Eco
A high-level delegation from the Kurdistan Regional Government (KRG) concluded a series of intensive negotiations in Baghdad, focusing on the draft federal budget law for 2027 and securing the region's financial shares and constitutional entitlements. These discussions involved meetings with relevant federal officials and ministries, aimed at ensuring direct participation in drafting the final budget. Information from the KRG's Department of Media and Information indicated the delegation's agenda included three pivotal meetings with the federal Ministries of Finance, Planning, and Oil. Throughout these sessions, adherence to constitutional and legal frameworks was emphasized to guarantee the rights of KRG employees and its fair financial dues. Regarding budget and financial negotiations, the delegation held a significant meeting with the Federal Minister of Finance and Acting Minister of Planning, Faleh Al-Sari. Both sides discussed shared perspectives on the region's financial allocations. The KRG delegation expressed appreciation for its participation in the initial stages of budget drafting at the Federal Ministry of Finance, stressing the need for stable and equitable foundations for the financial relationship between Baghdad and Erbil. Minister Al-Sari welcomed the delegation's involvement, affirming the Federal Ministry of Finance would address the region's rights in accordance with the constitution and applicable laws. At the Federal Ministry of Planning, another joint meeting took place, attended by undersecretaries from both governments' ministries and directors-general for investment and planning. The KRG delegation requested its share of investment projects be calculated based on the latest general population census, alongside entitlements from regional development allocations and petrodollar funds. The delegation also stressed the importance of including the region in international loans, aid, and grants, given its responsibility for repaying a portion of their installments and interest. The federal planning delegation expressed readiness to discuss all proposals and continue joint technical coordination. Finally, the delegation held an extended meeting at the Federal Ministry of Oil with the minister and senior staff to discuss the oil-related clauses of the 2027 budget. Discussions focused on determining estimated quantities for export, including the region's fields, as well as the estimated price per barrel of oil and quantities for domestic consumption. The KRG delegation affirmed its full commitment to delivering produced oil earmarked for export to the Iraqi Oil Marketing Company (SOMO) for sale in international markets and transferring its revenues to the federal treasury. This commitment was welcomed by the Ministry of Oil as a step towards a balanced formulation ensuring production and export continuity. The conclusion of these discussions sees the Kurdistan Region reaffirming its commitment to fulfilling all constitutional duties, contingent on the federal government providing the region's financial rights, primarily the salaries and entitlements of employees fairly, on par with other Iraqi governorates.
