ERBIL — The Council of Ministers of Iraq on Sunday postponed a meeting which was set to approve the 2021 budget bill before sending it to the parliament.
A source said the postponement was to allow the ministry of finance to redraft the bill and make some amendments.
According to media reports, the amendments will include budget bill’s estimation of oil price which was previously set on $41 per barrel, and it is expected to be fixed at $48 per barrel this time.
Other sources familiar with the matter said that the postponement of the voting session at the council of ministers was also the result of the delayed agreement between Erbil and Baghdad on the budget bill and the share of the Kurdistan Regional Government (KRG).
Kurdistan Region Prime Minister Masrour Barzani on the same day chaired a meeting with KRG’s high-level committee for negotiations with Baghdad to discuss the viability of a deal with the federal government.
A statement by the KRG said later that Erbil and Baghdad had progressed to a “mutual understanding” on KRG’s financial entitlement.