Iraq News - Local News - Baghdadpost

Passing of Deficit Law "Dangerous Precedent": Iraqi Presidency

Iraqi Presidency has issued a statement on Thursday's passing of the ‘Deficit Law’ by the country's Council of Representatives without the presence of the Kurdish lawmakers, saying that it was a "dangerous precedent."

Even though the Kurdish representatives boycotted the session, the Shia and Sunni factions on Thursday morning passed the Deficit Law which obliged Iraq to cut 320 billion Iraqi dinars share for the Kurdistan Region as part of the autonomous region's share from the federal budget, despite an agreement between Erbil and Baghdad in this regard.

A statement by the Iraqi Presidency argued: "Although passing the deficit law was an important step to secure the salaries of the public employees for the next three months, borrowing money is not a sustainable solution.”

It further called on the Kurdistan Regional Government (KRG) and federal government to resolve their disputes, especially those issues related to oil and budget share.