Syria to raise public sector wages by 400% to ease economic pressure

In an effort to tackle the country’s ongoing financial struggles, the Syrian interim government has announced a 400% salary increase for government employees. 

The announcement came on Sunday, with Finance Minister Mohammad Abazid confirming the news. 

This pay raise is expected to cost the government approximately $127 million (1.65 trillion Syrian pounds), according to a report by Reuters.

The wage increase will be implemented after the government completes administrative reforms across ministries. 

These reforms are aimed at improving the efficiency and accountability of public institutions.

"This is the first step toward finding an urgent solution to the country’s economic challenges," Finance Minister Abazid told Reuters. 

He also mentioned that public employees will receive their previous month’s salary within this week.

Syria’s financial system has been severely affected by years of conflict, leaving the state treasury in a liquidity crisis. 

The central bank’s reserves mainly consist of Syrian currency, which has lost much of its value due to the economic downturn.

The government is hopeful that it will be able to recover $400 million in frozen assets held abroad. In addition, the finance ministry mentioned that several Arab countries have pledged to provide financial support to Syria.

With this significant pay raise, the Syrian government hopes to alleviate some of the economic strain on public sector workers, who have been struggling amid the country’s financial crisis.