Council of Ministers convenes on 2021 Kurdistan Region budget bill

Erbil, Kurdistan Region, Iraq (GOV.KRD) - Prime Minister Masrour Barzani today chaired a cabinet meeting to discuss ongoing efforts to prepare the Kurdistan Region’s budget bill for the 2021 fiscal year.

Minister of Finance and Economy, Awat Sheik Janab, presented a report on the current financial situation in the Kurdistan Region, and briefed Cabinet members on the Kurdistan Regional Government’s 2021 budget draft.

Cabinet members discussed potential avenues to restructure government spending and revenue streams, reduce expenditures, and limit the estimated deficit this year. The Prime Minister reiterated the government’s commitment to implementing its reform agenda in an effort to increase public revenues.

Minister of Planning, Dara Rashid, jointly reported on the Kurdistan Regional Government’s investment budget for major service projects within the framework of the 2021 budget.

Following an exchange of views, the Council of Ministers approved a timeline for the 2021 budget bill. The Supreme Economic Council will meet next week to approve the first draft of the bill.

The Cabinet also tasked the Ministries of Interior and Peshmerga with forming a joint task force to prevent irregularities and smuggling at all border crossings in the Kurdistan Region.

Cabinet members stressed the importance of enforcing previous decisions which aimed to restructure service contracts for border crossing, in line with public interests and revenues.

In the meeting, the Prime Minister congratulated Kamal Atrushi on winning the confidence of the Kurdistani Parliament for his new role as Minister of Natural Resources, and wished him success in this post.