Iraq/Kurdistan: Iraqi Official: KRG to Receive Full Share of Budget for First Time

Jan 20, 2015 | Aso Fishagi, Rudaw
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ERBIL, Kurdistan Region – Despite falling oil prices that have severely hit Iraqi revenues, the autonomous Kurdistan Regional Government (KRG) will receive its full 17 percent of the budget, the head of the Iraqi parliament’s oil committee said. 

“Erbil will receive 17 percent of the national budget in reality and not just in theory, and this order will remain even in the future,” Ahmad Chalabi told the Iraqi Oil Report news website this week.

Last month, the Iraqi cabinet approved a $102.5 billion budget for 2015, based on a projected oil price of $60 a barrel and a projected deficit of $19.1 billion. But oil prices have dropped from around $100 last year to less than $50 this month.