Syria: 400% increase in public sector salaries

DAMASCUS – Reuters Finance Minister in the Syrian Interim Government, Muhammad Abazid, said on Sunday that the government will increase the salaries of many public sector employees by 400 percent next month after completing the administrative restructuring of the ministries to enhance efficiency and accountability. The cost of increasing salaries is estimated at approximately 1.65 trillion Syrian pounds (about 127 million dollars at the current exchange rate), and will be financed from the current state treasury, regional aid, new investments, and efforts aimed at unfreezing Syrian assets currently located abroad. The minister said: This is “the first step towards an emergency solution to the economic reality in the country,” adding that the salaries of public sector employees this month will be paid.