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The regional government sends non-oil revenues to Baghdad

4/24/2024

The Kurdistan Regional Government announced, on Wednesday, that non-oil revenues would be sent to the account of the Federal Ministry of Finance.

 

A statement stated that the Kurdistan Regional Council of Ministers held its regular weekly meeting, headed by Prime Minister Masrour Barzani, and discussed a number of important files on the agenda.

In the first paragraph of the meeting’s agenda, the Minister of Finance and Economy presented a report on the steps taken by the ministry regarding the region’s salaries for the month of April, noting that the official audited and approved salary lists for this month were sent to the Federal Ministry of Finance during the past few days, and it included all the information. Necessary.
The minister expected that salaries would be sent through the same mechanism that was followed last month, similar to the salaries of employees in the rest of Iraq.

In the context of his report, which he prepared in conjunction with the negotiating delegation, the Minister of Finance and Economy presented a set of mechanisms through which the obligations of the regional government regarding non-oil revenues can be implemented, as well as how these revenues can be shared with the federal government.
The Council of Ministers directed the Ministry of Finance and Economy and the negotiating delegation to transfer the federal public treasury’s share of non-oil revenues generated in the region to the account of the Federal Ministry of Finance, in accordance with applicable federal laws.

Regarding the issue of localization of the region’s salaries, the Council of Ministers considered this issue important, and stressed that the Kurdistan Regional Government is not and has never been against nationalization, and the region has already begun, for a long time, the process of localizing the salaries of litigants within the framework of the (My Bank Account) project, based on what was stated in Ministerial formation work programme.

The Council of Ministers stressed that discussions with the federal government are focused on the Emiratisation mechanism, and not on the essence of the Emiratisation process itself, and therefore addressing the issue requires finding a common understanding that is in the interest of salary recipients, and ensuring that the process is completed easily and smoothly through banks approved and approved by the Central Bank. Confirming that the (My Account) project met all the conditions and requirements of the Central Bank of Iraq.   

 

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