Syria's Finance Ministry Initiates Major Public Sector Salary Increase

The Syrian government is set to increase public sector salaries by 400% following an administrative restructuring aimed at boosting efficiency. This increase, costing 1.65 trillion Syrian pounds, will be financed through state resources, regional aid, and unfrozen assets. The move is part of Syria's strategy to stabilize its economy.

The Syrian government plans to raise salaries for public sector workers by 400% next month as part of efforts to enhance efficiency and accountability, according to the finance minister on Sunday. This salary hike is estimated at 1.65 trillion Syrian pounds, approximately $127 million at present rates.

The initiative will be funded through existing resources, regional aid, investment, and unfreezing Syrian assets abroad. Mohammed Abazeed, the finance minister, describes this as the initial step toward addressing the 'economic reality' faced by the country.

Syria's caretaker government aims to stabilize the economy following years of conflict and sanctions. Additional reforms include evaluating public sector employees to eliminate fictitious positions and reform tax systems, with a new draft expected within four months.

(With inputs from agencies.)