These measures are part of a broader strategy by Syria’s new caretaker government to stabilize the country’s economy following 13 years of conflict and sanctions.
Salaries of Syria’s public sector employees under toppled President Bashar al-Assad’s regime were around US$25 a month, putting them below the poverty line, along with the majority of the country’s population, Abazeed said.
The hike would follow a comprehensive evaluation of up to 1.3 million registered public sector employees to remove fictitious employees from the payroll and would affect those with sufficient expertise, academic qualifications, and the necessary skills for reconstruction.
Syria’s state treasury is facing liquidity challenges emerging from a war. The majority of money available in the central bank is Syrian currency, which has lost much of its value. However, the new government was promised assistance from regional and Arab countries, the minister said.
“The launch of investments in the country in the near future will also benefit the state treasury and allow us to finance this salary increase,” he said, adding the central bank currently has sufficient funds to finance the next few months.
