The Cabinet of the Kurdistan Regional Government (KRG) said the tripartite agreement on oil exports from the Kurdistan Region has been implemented “effectively and flawlessly” and instructed the Ministry of Finance to implement the obligations of the government to send non-oil revenues to Baghdad.

The agreement between Erbil and Baghdad and oil companies was signed and announced on September 25. Two days after that, oil exports recommenced after being halted since March 25, 2023.

During today's session, the cabinet said more than three million barrels of oil have been sold in the world market by SOMO, and the revenue has been returned to the Federal Ministry of Finance.

Call for Salary Payments

Furthermore, the KRG urged the federal government to disburse the salaries of Kurdistan Region public sector employees. So far, Baghdad has paid seven months of entitlements, with the salary for August and the remaining months still pending.

Non-Oil Revenue Transfers

On the revenue sharing with Baghdad, the government stressed the importance of implementing the obligations and “giving priority to this issue before all expenditures, so that the Federal Ministry of Finance does not use anything as an excuse not to send salaries.”

Temporary Financial Measures Announced

The cabinet also authorized a number of budgetary measures on Wednesday and decided to send 120 billion dinars in non-oil revenues to Baghdad.

To reduce financial pressure and enhance efficiency, the government has temporarily suspended project advances and public sector recruitment until the end of the year.