Kurdistan Region Prime Minister Masrour Barzani and his deputy, Qubad Talabani, chaired a meeting on Monday to discuss policies to boost the region’s economy, a government statement said.
The Kurdistan Region’s “Economic High Council” held its first such meeting to “discuss the financial situation in the Kurdistan Region and to seek ways to boost the economy,” the statement read. The body is made up of cabinet ministers and provincial governors.
“Prime Minister Barzani emphasized the need to establish a roadmap for economic growth with policies that will update the tax system, reduce excessive and unnecessary expenditures, and increase national revenues.”
The prime minister also reaffirmed “his cabinet’s commitment to diversifying and modernizing the economy of the Kurdistan Region to attract local and foreign investors and encourage growth in all sectors.”
In an earlier Council of Ministers gathering last week, members began the process of an overhaul to the tax system in the autonomous region, developing the framework for updating the “current auditing practices and increasing the transparency of the taxation system.”
These steps come just weeks after the regional parliament passed the Reform Bill, a government initiative that has the stated aim of establishing a “fair” pension system for public servants and workers.