KTFA
FRANK26: "FULLY FUNDED MEANS A NEW EXCHANGE RATE".......F26
Minister of Finance: We have fully funded the salaries of the region’s employees for the year 2024
1/11/2025
Finance Minister Taif Sami confirmed on Saturday that the salaries of the region's employees for the year 2024 have been fully funded, while she indicated that the salaries of employees during 2025 are fully secured.
The Parliamentary Finance Committee stated in a statement, which was reviewed by "Al-Eqtisad News", that it "hosted Finance Minister Taif Sami to discuss the country's financial situation and the most prominent challenges facing the financing and spending process and securing some requirements."
Sami confirmed that "the Ministry of Finance had fully funded the salaries of the region's employees for the year 2024, and is not responsible for not delivering them to their beneficiaries," noting that "the salaries of employees during 2025 are fully secured."
She pointed out that "one of the most prominent challenges facing the ministry in implementing the 2024 budget and the deficit in it came as a result of the federal government paying more than 11 trillion in salaries to employees of the Kurdistan Region, while the authorities in Kurdistan did not deliver the region's oil and non-oil revenues to the center, which negatively affected the financing of other governorates."
She explained that "the audit balances report confirmed that the region's non-oil revenues amounted to more than 4 trillion dinars, and Erbil sent only 320 billion dinars to Baghdad."
Commenting on the amendment of Article 12 of the proposed budget law, the Minister of Finance confirmed that "the file is technical, and the ministry is not aware of it yet, but it has made the payment of the dues of companies operating in the oil fields within the region conditional on the submission of reports that include full details of the costs of production, transportation and internal consumption, in order to be included in the 2025 budget tables, in addition to delivering the region's full oil and non-oil revenues; in order to secure those dues from the federal government."
Sami explained that "the Ministry of Finance had funded the full salaries of the region's employees for the year 2024, and is not responsible for not delivering them to their beneficiaries."
The statement explained that "the Finance Committee decided to form a subcommittee to follow up on the Kurdistan Region's dues during the years 2024-2025, and to study the pending issues between Baghdad and Erbil."
He continued, "The committee also decided to host the general managers of the budget and accounting departments in the Ministry of Finance next Monday; to discuss some issues related to the state's financial policy."