KRG slashes payroll to stave off budget collapse

Facing huge deficits and an economic crisis, Kurdistan’s government has little choice but to cut wages and risk further public unrest.
KRG slashes payroll to stave off budget collapse
Twin oil pipelines run north to a processing facility at the Avana Dome oil formation in the Sargaran sub-district, Aug. 25, 2015. (PATRICK OSGOOD/Iraq Oil Report)

The Kurdistan Regional Government (KRG) announced sizeable cuts to its bloated government payroll Wednesday, in response to a budget crisis that has brought the economy to the brink of collapse.The region’s Cabinet voted to slash the salaries of high-ranking government officials by 75 percent, and cut other government employees’ payroll by between 10 and 20 percent, according to a statement by the Cabinet office.“The sharp decline in global oil prices, from more than $100 to belo...

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