In a move aimed at strengthening ties and resolving financial issues, a new delegation from the Kurdistan Regional Government (KRG) is scheduled to visit Baghdad on Tuesday. The delegation's main focus will be on discussions with federal authorities concerning the implementation of the budget law. Peshawa Hawramani, the KRG Spokesperson, revealed this information during an interview with Kurdistan 24 on Sunday in Erbil.

According to Hawramani, the Kurdistan Region has fulfilled its obligations as stipulated by the budget law. He further mentioned that the semi-autonomous region is eagerly anticipating its share from the federal budget to facilitate the initiation of public salary disbursements.

Prime Minister Masrour Barzani has given clear instructions to the delegates, urging them to collaborate fully with federal officials and auditors during the talks, as stated by the KRG spokesperson.

In recent times, several delegations have journeyed to Baghdad to engage in talks centered around budget allocation, as well as oil and gas negotiations. One significant topic on the agenda is the drafting of a hydrocarbon bill.

Per the terms of the budget agreement, the Iraqi oil marketing company, SOMO, is now responsible for the sale of Kurdish oil. This marks a significant shift from previous years when the KRG had independently exported oil.

Under the agreement, the KRG has been delivering around 50,000 to 60,000 barrels of oil daily to Baghdad. This arrangement, as explained by a senior KRG official to Kurdistan 24, is designed to enable Baghdad to manage public expenses, including salary payments.

It's worth noting that prior to the current arrangement, the Kurdistan Region had been exporting over 400,000 barrels of oil per day through a pipeline that led to Turkey's Ceyhan port.

The management of oil and gas resources has been a contentious subject between the KRG and Baghdad for more than a decade. The passing of Iraq's three-year budget bill in June was a significant step towards addressing these issues. The budget encompasses state expenditures totaling 198.91 trillion Iraqi dinars (approximately $153 billion), accompanied by a deficit of over 64 trillion dinars (equivalent to more than $48 billion).

Of particular significance to the Kurdistan Region is its share in the federal budget, which is fixed at 12.67 percent, translating to an annual amount exceeding $12 billion. These budget discussions hold substantial importance in resolving long-standing financial disputes and enhancing cooperation between the KRG and federal authorities.