(CLO) Syria's Finance Minister said the country's interim government will increase salaries by 400% for many public sector employees from next month, after completing the administrative restructuring of ministries to improve efficiency and accountability.
The increase is estimated to cost 1.65 trillion Syrian pounds (about $127 billion at current exchange rates), which would be financed from existing state resources, combined with regional aid, new investments, and the release of Syrian assets frozen abroad.
Syria's de facto leader Ahmed al-Sharaa attends a meeting with former rebel faction leaders in Damascus. Photo: GI/SANA
"This is the first step to urgently address the country's economic situation," Finance Minister Mohammed Abazeed said, adding that public sector employees' salaries for this month would be paid this week.
The measures are part of the interim government's overall strategy to stabilize the economy after 13 years of conflict and sanctions.
Before President Bashar al-Assad was overthrown, public sector salaries were around $25 a month, below the poverty line. Most of Syria’s population also lives below the poverty line, Abazeed said.
The pay rise will be accompanied by a comprehensive review of some 1.3 million public sector employees to weed out those who are not actually working and only apply to those with the qualifications and skills to serve the country's reconstruction.
Syria’s state coffers are facing liquidity problems as a result of the war. The central bank holds most of its money in Syrian pounds, which have depreciated sharply. However, the new government has received pledges of support from regional and Arab countries.
"The launch of investment projects in the coming period will also help increase budget revenues and finance this wage increase," Mr. Abazeed said, adding that the central bank has enough money to cover the payments in the next few months.
The government also hopes to recover up to $400 million from frozen Syrian assets abroad to help with initial spending.
In addition, the interim government is discussing a maximum reduction of penalties and tax interest for taxpayers, and reforming the tax system within the next three months to ensure fairness.
“We expect to complete a well-designed tax system that considers the interests of all taxpayers by the end of this year,” Mr. Abazeed affirmed.
Cao Phong (according to SANA, Reuters, AJ)
Source: https://www.congluan.vn/chinh-phu-lam-thoi-syria-se-tang-luong-400-cho-cong-chuc-vao-thang-toi-post329123.html
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