Minister of Finance: The emergency support law will achieve two goals

BAGHDAD-INA

Finance Minister Ali Abdul Amir Allawi set Friday the objectives of submitting the emergency food security support bill to the parliament for legislation, while stressing that the region did not hand over its revenues to Baghdad.

 Allawi said in a speech on the sidelines of the spring meetings of the World Bank and the International Monetary Fund in Washington, which was attended by the reporter of the Iraqi News Agency (INA), that "the submission of the emergency support bill is designed for specific purposes, as citizens suffer from the high prices of global commodities, which has an impact on the poor classes, explaining that "what Is wanted from the draft law is to estimate the unexpected gains from the rise in oil and distribute them according to need, either through cash transfer or food basket."

He added that "Iraq receives the money from the export of oil three months after the start of the export shipments," noting that "the unexpected gains due to the rise in oil prices amount to 25 billion dollars after six months from now, and this is what was planned in the emergency financing law."  

 He pointed out that "the federal government did not receive any cash or account from the Kurdistan region, although it is obligated to pay the revenues of oil exports, customs, fees and other taxes associated with the region, especially customs," noting that "the federal government provided additional amounts to the Kurdistan region after being exposed to its inability last year to pay the salaries of civil employees , and we will continue to do so until the accounts are settled between the Kurdistan Regional Government and the Federal Government.”