BAGHDAD: The Kurdistan Regional Government has not transferred its oil revenues to the federal state treasury since a judicial decision required the payment of salaries to its employees, Minister of Finance Taif Sami revealed today.

According to National Iraqi News Agency, during a comprehensive meeting with the Finance Committee, Minister Sami detailed the ongoing financial challenges faced by the country amid fluctuating global oil prices and regional tensions. The meeting, led by committee head Atwan Al-Atwani, also examined the federal budget execution, strategies for enhancing non-oil revenues, and plans for automating public services to improve financial returns.

Al-Atwani emphasized the necessity of reducing dependence on oil revenues to stabilize the economy and foster sustainable development. He announced the committee’s intent to produce a detailed report recommending reforms for increasing state revenues through improved taxation, customs adjustments, and better management of state assets.

Minis
ter Sami highlighted the critical financial situation due to the non-transfer of oil revenues by the Kurdistan Regional Government following the Federal Court’s decision. This issue has significantly impacted the federal budget, with Kurdistan’s government only contributing a small fraction of its non-oil revenues. Despite these challenges, Sami assured that provisions for the ration card and food basket are secure for the next six months, thanks to recent improvements in oil prices.