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.
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 low since the beginning of 2023, down from 7,000 to 15,000 pounds to the greenback. At the start of the conflict in 2011, the dollar was trading at 47 pounds.
