Erbil–Baghdad Agreement approved in 2015 budget
The Head of Kurdistan Regional Government Council of Minister, Amanj Raheem, said that Erbil–Baghdad Agreement has gone through legal procedure since it has been approved by Iraqi Council of Ministers.
Later this week, the Iraqi Parliament approved the Kurdistan Region's 17 percent share of the 2015 general budget in a session. The Parliament read the draft budget bill for fiscal year 2015 in the presence of 208 representatives.
Raheem said approving the bill by Council of Minister is very important because if delayed, the Government have to send a share of the budget each month starting in January 1, 2015.
On the other hand, Iraq’s Prime Minister Haidar Abadi defended his recent agreement with Kurdistan as his cabi- net approved the draft budget worth 123 trillion dinars (about $103 billion) on Tuesday.
The budget is seen as a direct outcome of the stabilizing relations with the Kurdistan Regional Government and the oil pact Baghdad and Erbil have signed.
“The agreement on budget and oil exports from Kurdistan Region and Kirkuk is a victory for Kurds and Arabs in Iraq and we are ready to push aside our differences,” Abadi said in an interview with the Mada daily Tuesday.
According to the agreement between the KRG and Iraqi Government, Erbil will export 550,000 barrels of oil per day in return for the Kurdistan Region’s 17 percent share of the Iraqi budget, or roughly $1 billion every month.