Economic Update – Baghdad
The Ministry of Finance and Economy for the Kurdistan Regional Government has announced a significant development regarding pensioner compensation following a recent agreement with the federal government.
According to the ministry’s statement, this agreement was reached after a productive meeting held today in Baghdad, which focused on implementing Law No. (9) of 2014 concerning unified pensions in Iraq.
The discussions aimed to align efforts between the two governments to “standardize the pension calculation for retirees in the Kurdistan Region with those of retired employees in the federal system.”
The ministry indicated that “the agreement stipulates that the salary calculation, which will take effect in July 2024 for civilian retirees in the Kurdistan Region, will be in accordance with the federal government’s pension structure,” emphasizing that “the implementation will be uniform across both parties, without any further amendments.”
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