ERBIL, Kurdistan Region - Iraq’s parliament on Monday passed the proposed budget tables which seek to increase spending for 2024.
Iraqi Prime Minister Mohammed Shia’ al-Sudani and his cabinet last month finalized a draft of the budget bill tables and referred it to the Iraqi parliament for approval.
The parliament’s media office announced that the members of the legislature passed the tables on Monday that sees an increase in the country’s spending to 211 trillion dinars (about $161 billion).
Sudani commended the parliament for approving the tables.
“With great appreciation and pride, we commend the responsible decision taken by the esteemed Council of Representatives in approving the budget tables for the year 2024,” read a statement from Sudani’s office.
“We reaffirm our commitment to implementing the government program, approved by the Council of Representatives and supported by political forces, to achieve the targeted objectives and fulfill the priorities that reflect the aspirations and demands of the Iraqi people,” it added.
In June 2023, Iraq passed a three-year budget that included a record $152 billion in spending, allocating 12.6 percent to the Kurdistan Region.
Abdul Zahra al-Hindawi, the spokesperson for the Iraqi planning ministry told Rudaw last week that the Kurdistan Region’s share is from the 2024 budget is 14 percent.
Iraq’s planning ministry announced in late May that the Kurdistan Region’s share of federal investment funds is 4.8 trillion dinars ($3.67 billion).
Around 2.7 trillion dinars (About $2.1 billion) of the investment funds allocated for the Kurdistan Region is dependent on the resumption of the Region’s oil exports that have been suspended since March 2023, according to the planning ministry.
Federal budgets routinely require intense negotiations between Erbil and Baghdad. The cash-strapped Kurdistan Regional Government (KRG) has repeatedly accused Baghdad of not making regular payments of its share of federal funds. Baghdad has claimed it has fully implemented its financial obligations to the KRG.
In April, Kurdistan Region Prime Minister Masrour Barzani said that an “appropriate” solution with the assistance of Sudani.
Earlier this month, a delegation from the Kurdistan Region attended meetings of the committee responsible for budget amendments. After their return, they said in a statement that the details will be amended in such a way that the rights of the Kurdistan Region are protected.
