RE: Iraqi parliament approved Article 1310 Jun 2023 20:27
Rudaw Digital
According to Article 13 of the Iraqi budget bill, the Kurdistan Region will receive more than 55 billion dinars monthly as a petrodollar budget, in exchange for the production of 400,000 barrels of oil.
Nehro Rwandzi, deputy chairman of the Iraqi parliament's oil and gas committee, told Rudaw that the Kurdistan Region, like other oil-producing provinces, will benefit from the petrodollar budget.
The Kurdistan Region's share in the Iraqi budget is more than 16 trillion dinars, excluding petrodollars. "By calculating the petrodollar budget, some more money will go to the Kurdistan Region's share," he said.
On June 9, the Iraqi parliament approved Article 2 of the budget bill, according to the fifth paragraph of the first paragraph of the article, 5% of oil revenues will be paid back to each governor and oil producing region.
According to the Iraqi budget bill, the Kurdistan Region will hand over 400,000 barrels of oil daily to the Iraqi federal government for export, if not, the amount of oil will be for domestic consumption.
According to the provision, the value of the oil that the Kurdistan Region will deliver to Baghdad monthly, reaches $ 840 million, of which more than $ 42 million will be as the petrodollar budget, which is broken down by the official exchange rate 55 billion and 440 million dinars