In a significant move to address the economic challenges faced by Syria, the caretaker government has announced a substantial salary hike for public sector employees. This initiative comes as part of a broader strategy aimed at stabilizing the country’s economy following years of conflict and sanctions.
The finance minister of Syria revealed that salaries for many public sector workers would see a remarkable increase of 400% in the upcoming month. The decision follows an administrative restructuring within ministries to enhance efficiency and accountability in governmental operations.
The financial implications of this salary increment are estimated at 1.65 trillion Syrian pounds, equivalent to approximately US$127 million based on current exchange rates. The funding for this raise will be sourced from existing state resources, regional aid, new investments, and efforts to unfreeze Syrian assets held abroad.
Describing it as an “emergency solution” to address the economic reality in the nation, Mohammed Abazeed emphasized that these measures mark a crucial step towards providing relief to public sector employees who have long struggled with meager wages under the previous regime.
Under former President Bashar al-Assad, public sector salaries were reported to be as low as US$25 per month, pushing many employees below the poverty line. The salary revision aims to rectify this disparity by ensuring fair compensation for skilled individuals contributing to Syria’s reconstruction efforts.
Furthermore, a comprehensive evaluation process targeting up to 1.3 million registered public sector workers is underway to eliminate ghost employees from the payroll system. Only those possessing requisite expertise, academic qualifications, and reconstruction-related skills will benefit from the salary adjustment.
The Syrian government acknowledges the liquidity challenges stemming from years of conflict-induced strain on its treasury. Despite facing devaluation issues with its currency reserves primarily held in local currency at the central bank, promises of financial assistance from regional and Arab nations offer hope for economic recovery.
Efforts are also underway to recover frozen Syrian assets abroad amounting up to US$400 million – funds that could supplement initial government expenditures including the proposed salary raise. Additionally, plans are being formulated to overhaul the tax system within three months for enhanced tax justice and relief for taxpayers.
By year-end, authorities aim to establish a more equitable tax framework that considers the interests of all taxpayers while minimizing penalties and interest charges where possible. These strategic reforms seek not only economic stability but also foster confidence among Syrians in their government’s commitment towards sustainable progress.
In conclusion, amidst ongoing challenges posed by protracted conflicts and international sanctions, Syria’s caretaker government endeavors towards revitalizing its economy through prudent financial strategies aimed at uplifting its workforce and fostering fiscal responsibility across all sectors.
