KRG approves Fiscal Deficit Financing Law passed by Iraqi parliament

Kurdistan 02:11 PM - 2020-12-08
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Kurdistan Regional Government's minister for relations with Baghdad Khalid Shwani said in a joint press conference with the KRG Minister of Finance Awat Sheikh Janab on Monday that the regional government has expressed its agreement to deal with the content of the Fiscal Deficit Financing Law for the year 2020.

 

He indicated that they have formally informed the federal government of their readiness to implement the obligations that the law establishes in the Kurdistan Region. .

 

Shwani added that they suggested holding a meeting between the competent authorities in the two governments to start the procedures for implementing the law.

 

"We are waiting for the federal government to secure the financial benefits approved for the Kurdistan Region in the law," he said.

 

For his part, Minister of Finance Awat Sheikh Janab said that the Prime Minister of the Kurdistan Region sent a response to a letter from the Federal Ministry of Finance declaring the Kurdistan Region’s commitment to the law.

 

This comes after the Iraqi parliament on 12th of November passed the Fiscal Deficit Financing Law with a majority of its members in the absence of representatives from the Kurdistan Region, who boycotted the session over disagreements for the autonomous region’s share in the federal budget.

 

 

 

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