• Latest
President doubles public sector wages as national currency spirals downwards

President doubles public sector wages as national currency spirals downwards

August 17, 2023

West Nile Region: President Museveni’s Message Focused on Consolidating Peace, Promoting Wealth Creation and Development

October 22, 2025
Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

October 22, 2025
VINAStech Advert
63 Passengers Perish in Road Crash on Gulu Highway

46 Confirmed Dead as Police Revises Gulu Highway Death Toll

October 22, 2025
PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

October 22, 2025

Why Uganda’s mineral wealth has not translated into prosperity

October 22, 2025
63 Passengers Perish in Road Crash on Gulu Highway

63 Passengers Perish in Road Crash on Gulu Highway

October 22, 2025

All the reasons Mitooma voters are calling for Kyarampe to win the Woman MP seat

October 22, 2025

Namirembe Blessious: A New Voice Rising for Western Uganda’s Youth

October 21, 2025
Presidential Advisor rallies local artistes, radio presenters to canvas votes for Museveni

Presidential Advisor rallies local artistes, radio presenters to canvas votes for Museveni

October 20, 2025

Suzan’s Story: A Painful Reminder That HIV Is Still With Us

October 19, 2025
Japan’s Ex-Premiere Dies at 101

Japan’s Ex-Premiere Dies at 101

October 17, 2025
Bridging the Protection Gap in Uganda’s Green and Agricultural Economy

A summit of contradictions: Talking green while financing fossil fuels

October 17, 2025
  • About Us
  • Internship
  • Contact Us
Wednesday, October 22, 2025
Parrots Media
No Result
View All Result
  • Login
  • News
    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    63 Passengers Perish in Road Crash on Gulu Highway

    46 Confirmed Dead as Police Revises Gulu Highway Death Toll

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    63 Passengers Perish in Road Crash on Gulu Highway

    63 Passengers Perish in Road Crash on Gulu Highway

    Suzan’s Story: A Painful Reminder That HIV Is Still With Us

    Men Sucking Women’s Breasts Doesn’t Prevent Cancer, Oncologists

    Men Sucking Women’s Breasts Doesn’t Prevent Cancer, Oncologists

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
  • News
    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines

    63 Passengers Perish in Road Crash on Gulu Highway

    46 Confirmed Dead as Police Revises Gulu Highway Death Toll

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents

    63 Passengers Perish in Road Crash on Gulu Highway

    63 Passengers Perish in Road Crash on Gulu Highway

    Suzan’s Story: A Painful Reminder That HIV Is Still With Us

    Men Sucking Women’s Breasts Doesn’t Prevent Cancer, Oncologists

    Men Sucking Women’s Breasts Doesn’t Prevent Cancer, Oncologists

    Trending Tags

  • Climate Change
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Business
  • Others
    • Education
    • Lifestyle
    • Religion
    • Opinions
No Result
View All Result
Parrots Media
No Result
View All Result
Home RELIGION

President doubles public sector wages as national currency spirals downwards

The United Nations estimates that 90% of Syrians in government-held areas live in poverty.

Charles Katabalwa by Charles Katabalwa
August 17, 2023
in RELIGION
0
President doubles public sector wages as national currency spirals downwards
0
SHARES
0
VIEWS
Share on FacebookShare on X

Syria’s president early Wednesday doubled public sector wages and pensions as the war-torn country’s national currency spiraled further downwards, reaching a new low for the year.

 

READ ALSO

Because even in the house of God, not everyone who says “Hallelujah” means well

COU Head Criticizes Canterbury Appointment

President Bashar Assad issued the two decrees just before midnight Tuesday as the Syrian pound’s value against the U.S. dollar declined to a new all-time low, down from 7,000 at the beginning of 2023 to 15,000 pounds to the greenback. At the start of the conflict in 2011, the dollar was trading at 47 pounds.

 

For over a year, Damascus has been restructuring its program of subsidies for gasoline, diesel for heating, and bread. At the launch of the restructure in February last year, Syrian Prime Minister Hussein Arnous said the move to scale back fuel subsidies would allow the program to target the poorest families more effectively as well as reducing the Syrian state’s deficit.

 

Though wheat and bread subsidies have not been affected, the move has sparked rare protests in the country, as families struggle to cope with skyrocketing inflation. Syria hiked fuel prices Wednesday, soon after Assad’s decree, further rolling back state subsidies.

 

“The national economy is in a clear state of instability, most notably rapid rise of the currency exchange rate,” Arnous told Syria’s parliament in a speech late last month, warning that financing government spending through debt and borrowing from the central bank is not sustainable.

 

Syria’s last wage hike was in December 2021, where Assad raised civil service salaries by 30%.

 

The increase in wages might be an immediate relief for Syrians, but would be temporary at best as its economic situation continues to worsen, Sam Heller, fellow at New York-based think tank Century International, told The Associated Press.

 

“It seems likely to fuel inflation and thus worsen the continued depreciation of Syria’s currency,” he said.

 

The Syrian Observatory for Human Rights, an opposition-linked war monitoring group based in Britain, said that hours after the decree was issued, fuel and produce prices increased, as public discontent over the dire economic situation worsens.

 

Syria’s currency has been depreciating since 2019, further worsened by neighboring Lebanon’s economic meltdown and Covid-19. However, the recent wage hike and a massive government payout to this summer’s wheat harvest have increased the amount of money circulating in the market.

 

“This (wage) increase is all but wiped out following the increases in fuel prices and recent depreciation in the Syrian pound,” Karam Shaar, nonresident senior fellow at Washington-based think tank the Newlines Institute, told the AP. “(It) will feed into local (market) prices in a month or two fully.”

 

Syria’s uprising turned-civil war, now in its 13th year, and Western-led sanctions have pulverized the country’s economy. In February a deadly 7.8 magnitude earthquake further devastated its already damaged homes, water, and electricity infrastructure, especially in the ruined city of Aleppo. Experts say that the Syrian government’s rampant corruption and mismanagement of public funds have worsened matters.

 

The United Nations estimates that 90% of Syrians in government-held areas live in poverty. More than half the population approximately 12 million people struggle to put food on the table, the U.N. estimates.

 

The figure is similar for a northwestern enclave still held by the opposition.

In recent months, Arab governments that once endorsed Assad’s removal have restored relations with Damascus. Syria was welcomed back to the Arab League in May, after a suspension lasting more than a decade for its crackdown on protesters.

 

While there have been some early talks about a political solution that could lead to investment and aid from oil-rich Gulf monarchies, Western-led sanctions remain a key obstacle should any deals come to fruition.

Source: AP News

Related Posts

Because even in the house of God, not everyone who says “Hallelujah” means well
RELIGION

Because even in the house of God, not everyone who says “Hallelujah” means well

October 17, 2025
COU Head Criticizes Canterbury Appointment
RELIGION

COU Head Criticizes Canterbury Appointment

October 4, 2025
COU Head Criticizes Canterbury Appointment
News

Sarah Mullally named first female Archbishop of Canterbury

October 3, 2025
Mbarara Archdiocese Announces Major Priest Transfers
RELIGION

Mbarara Archdiocese Announces Major Priest Transfers

September 25, 2025
5,430 Recive Medical Services at AMDA Camp Rekindling Hope and Healing in Historic Pilgrimage
RELIGION

5,430 Recive Medical Services at AMDA Camp Rekindling Hope and Healing in Historic Pilgrimage

August 31, 2025
Hoima Diocese Bishop Mourns Victims of Kigorobya Road Tragedy
RELIGION

Hoima Diocese Bishop Mourns Victims of Kigorobya Road Tragedy

August 6, 2025
Next Post
Ten Die In Elmina Plane Crash

Ten Die In Elmina Plane Crash

POPULAR NEWS

Minister Amongi, Akena Scrapped from EC Voters’ Register Oops

Minister Amongi, Akena Scrapped from EC Voters’ Register Oops

September 3, 2025
Catholic Priest Speaks Out Against Museveni and Son’s Leadership

Catholic Priest Speaks Out Against Museveni and Son’s Leadership

February 16, 2025

“Life Is Scum”: Kabale University Student Leaves Suicide Note, Takes Own Life

July 25, 2025

Former IGP Okoth Ogola Dies

February 14, 2025

CAF Warns Fans Against Obscene and Politically Charged Jerseys at Namboole

August 20, 2025

EDITOR'S PICK

Suicide, Domestic Violence cases on rise in the lockdown, Police.

June 17, 2020
Shs 98b required to reopen schools.

Shs 98b required to reopen schools.

August 17, 2020

VP Alupo urges student leaders to embrace dialogue

January 9, 2025
FDC proposes censure motion for absentee ministers.

FDC proposes censure motion for absentee ministers.

July 12, 2022
VINAStech advert VINAStech advert VINAStech advert
ADVERTISEMENT

About

Parrots Media

A Public Relations and Media Services Company registered and licensed to operate in Uganda and the Great Lakes Region.

Follow us

Categories

  • Business
  • BUSINESS REPORTS
  • CLIMATE ACTION REPORTS
  • Climate Change
  • COMMUNITY REPORTS
  • Education
  • Entertainment
  • FEATURES
  • Health
  • Lifestyle
  • News
  • News
  • OBITUARY
  • Obituary
  • Opinions
  • Religion
  • RELIGION
  • Science and Technology
  • Sports
  • Sports and Entertainment
  • TOURISM

Recent Updates

  • West Nile Region: President Museveni’s Message Focused on Consolidating Peace, Promoting Wealth Creation and Development
  • Kyarampe Nominated for Mitooma District Woman MP Seat, Calls for Unity and Support Across Party Lines
  • 46 Confirmed Dead as Police Revises Gulu Highway Death Toll
  • PA Rugambwa Fulfills Mattresses Pledge Made to Rukungiri Residents
October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
  • About Us
  • Internship
  • Contact Us

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

No Result
View All Result
  • Parrots Media
  • News
  • Business
  • Science and Technology
  • Sports and Entertainment
  • Lifestyle
  • Others
    • Climate Change
    • Education
    • Religion
    • Opinions

© 2025 Parrots Media | Website Designed and Maintained by VINAStech

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

You cannot copy content of this page