THE PRESIDENT OF THE REPUBLIC APPROVES THE AMENDMENT TO THE BUDGET LAW
The President of the Republic, Abdul Latif Rashid, approved the first amendment to the Iraqi Federal Budget Law No. 13 of 2023, related to the export of Kurdistan Region oil through SOMO.
Secretary of the Kurdistan Regional Government Council of Ministers, Amanj Rahim, said, “The President of the Republic approved the first amendment to the Iraqi Federal Budget Law No. 13 of 2023.”
He added that “the law became official after the President of the Republic signed it, noting that the revenues from the sale of oil exported from the region will return to the federal treasury, according to the amendments related to the costs of production and transportation of oil.”
He added, “The law will not officially enter into force until it is published in the Official Gazette, Al-Waqa’i’ Al-Iraqiya, which is the last procedure required before its implementation begins.”