KRG to start salary payments Sunday
The Kurdistan Regional Government (KRG) will begin distributing public sector salaries on Sunday as part of the first phase of a new revenue-sharing agreement with Baghdad.
Speaking on condition of anonymity, a source from the KRG Ministry of Finance and Economy told Shafaq News that the KRG will transfer 120B IQD (about $85.3M) in local revenue to the Federal Ministry of Finance via the Central Bank's Erbil branch. In exchange, Baghdad is expected to release 960B IQD ($682.3M) on Monday to cover May salaries, which will be disbursed between Tuesday and Thursday.
The same process, the source noted, will apply to June wages: another 120B IQD will be sent to Baghdad next Sunday, triggering a second 960B IQD transfer to fund that month's salaries later in the week.
Regarding July payments, the source confirmed the KRG aims to begin partial disbursements in early August, pending the outcome of further talks with Baghdad on long-term revenue transfers, oil exports, and salary scheduling.
The agreement follows a high-level meeting last Thursday between Prime Minister Mohammed Shia al-Sudani and President Abdul Latif Rashid, where both reviewed plans to end the financial standoff with the Kurdistan Region.
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