ERBIL — The federal parliament in Baghdad is reportedly going to convene on Saturday, voting on the long overdue federal budget bill.

Parliamentary committee on finance will finish voting on the provisions of the bill tomorrow, and will officially submit it for a vote in parliament on Saturday, Narmin Maaruf, member on the finance committee, told BasNews today.

The Kurdistan Regional Government (KRG) and the federal government of Iraq have been awaiting approval of the budget bill in order to press ahead with their cabinets' investment and development agenda. Given the suspension of KRG crude exports, Erbil is dependent on federal budget allocations.

Baghdad approved the bill in March this year, which is the largest in decades. The budget covers public expenses for the years 2023-2025. It totals nearly 200 trillion dinars, with12.67 percent of the overall budget being allocated to the Kurdistan Region.