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The Kurdistan Regional Government (KRG) has sold more than one billion and 100 million barrels of oil in the past eight years but has less than 31 trillion dinars in revenue. This is at a time when the region has lost 81 trillion dinars in Iraq’s public budget due to the independent sale of oil and has also owed 45 trillion dinars.

The region's share in Iraq's budget

Kurdistan Region's share of Iraq's public budget between 2014 and 2021 was 97 trillion dinars, of which only 15 trillion dinars were sent to the region, meaning 81 trillion dinars were withheld from the region's share.

First: The region's share of Iraq's public budget, (2004-2014)

Before the independent economic decision, oil was sold independently by the regional government, in Iraq's public budget, as a monthly share, a large amount of money was sent from Baghdad to the region. So from 2004 till 2014, the federal government had sent 17 percent of the public budget to the region.

According to sources, the money that KRG received from the Iraqi federal government, continued from 2004 to 2014, was 75 billion and 177 million dollars.

According to sources, the money that KRG received from the Iraqi federal government, continued from 2004 to 2014, was 75 billion and 177 million dollars.

In 2014, due to the ISIS war and the problems of forming Iraq’s central government, there was no budget law, spending power was given to the ministries, and the region's share was cut from here.

According to a study published in October 2020 by the Office of Research and Investigation of the Iraqi House of Representatives, the Kurdistan Region Government received 96 trillion, 196 billion, and 503 million dinars from Baghdad, from 2005 to 2019. In return, the KRG returned only 2 trillion, 273 billion, and 430 million dinars from its income to the central government in Baghdad.

Second, the region's share of Iraq's public budget, (2014-2021)

Since 2014, the situation has been changed, although the Kurdistan region's share has been determined in the 2014-2021 budget laws, the region has never received its share from the Iraqi budget. That was all due to the region's decision to follow independent economic policy, and not submit oil to the central government. 

Region's share of Iraq's budget, (2014-2021)

* The Iraqi government did not have a budget law in 2020.

* In The first three months of 2020, 453 billion dinars were sent from Bagdad to the Kurdistan Region every month.

* The first six months of 2021 passed, but the Iraqi government did not send any budget to the region. In the second six months of 2021, the Iraqi government has sent 200 billion dinars monthly as advances to the Kurdistan Region.

*The Kurdistan region's share between 2014 and 2021 was 97 trillion, 540 billion, and 995 million dinars.

*Only 15 trillion, 929 billion, and 533 million dinars have been sent to the Kurdistan Region.

*The amount of 81 trillion, 611 billion, and 422 million dinars have been withheld from the Kurdistan region's share by the Iraqi central government.

Third, the KRG’s income of oil independently

Within the framework of an independent economic policy, the Kurdistan Regional Government exported more than 1 billion and 100 million barrels of oil from 2014 to the end of 2021. The average price of a barrel of oil was 54$ in that period. In general, without any expenses and costs, the value of the amount of oil that KRG sold was more than $55 billion.

Fourth; the result of independent oil sales

If we compare the income that the regional government has made through the sale of oil, with the portion of Iraq's budget that KRG lost, then:

* Since 2014, the Iraqi government has withheld 81 trillion dinars, 611 billion, and 422 million dinars of Kurdistan’s share.

* The Kurdistan Regional Government (KRG) was able to export 1 billion, 103 million, and 857,335 barrels of oil within 8 years, and get 30 trillion, 863 billion 374 million, and 220,231 dinars after coasts, expenses, and selling it for a cheaper price.

*The difference between independent oil sales and Iraq's general budget is 50 trillion, 748 billion, and 47 million 779,769 dinars.

Fifth: Accumulated public debt

Due to the continued crises from 2014 to 2020, the Kurdistan Region has been subject to a large amount of international and local debts. The amount of these debts is more than 31 billion U.S. dollars. A large portion of the debt goes back to the Kurdistan Regional Governments' previous cabinets.