Alpingi, the Icelandic Parliament Photo: Pall Kjartansson

Iceland’s leaders are about to get pay raise. A 9.3 percent increase means that the president’s wages go up by almost ISK 200,000 (USD 1,500, EUR 1,400) a month and the prime minister’s by a little over 118,000 (USD 892, EUR 835), mbl.is reports. The wage increase is retroactive to March 1, meaning that the president will receive close to ISK 1.8 million (USD 13,600, EUR 12,700) in retroactive pay.

The decision was based on the conclusion of an arbitration court regarding the wages of members of the Association of Academics and those of the Icelandic Union of Nurses’ Aides.

The prime minister can expect to receive ISK 1,065,456 (USD 8,060, EUR 7,540) in retroactive pay, other ministers ISK 962,919 (USD 7,300, EUR 6,800) and members of parliament 545,265 (USD 4,100, EUR 3,900).

The pay increase brings the president’s monthly pay to ISK 2,314,830 (USD 17,500, EUR 16,400), the prime minister’s to ISK 1,391,333 (USD 10,500, EUR 9,850), ministers’ pay will be ISK 1,257,425 (USD 9,500, EUR 8,900), and that of members of parliament ISK 712,030 (USD 5,400, EUR 5,000).

By Vala Hafstad

Source: Icelandreview.com