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Syrian caretaker government to hike public sector salaries by 400% next month

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Syria's finance minister said on Sunday the government would hike salaries for many public sector employees by 400% next month after completing an administrative restructuring of ministries to boost efficiency and accountability.
The Syrian caretaker government has announced a significant increase in public sector salaries and pensions, set to take effect next month. According to a Reuters report from January 5, 2025, the government plans to raise salaries by 400% and pensions by 200%. This decision comes in response to the ongoing economic crisis in Syria, exacerbated by years of conflict, international sanctions, and a currency collapse. The salary hike aims to mitigate the impact of inflation, which has drastically reduced the purchasing power of the Syrian pound. However, the increase might also lead to further inflation as the government will need to print more money to cover these costs, potentially worsening the economic situation.

Read the Full Reuters Article at:
[ https://www.reuters.com/world/middle-east/syrian-caretaker-government-hike-public-sector-salaries-by-400-next-month-2025-01-05/ ]