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Series of steps
Economist George Kazam writes
One of the most important factors in attracting foreign investment is lower wage levels and, with them, lower production costs, especially for export industries to compete in foreign markets.
Low wages and salary levels alone are not enough to attract foreign investment, because if the national economy is not freed from the clutches of certain officials, foreign investors will pay additional unnatural fees that are many times the cost of wages and salaries. Economic and financial decision-making centers are the reason for restricting the free flow of funds.
Wages in Syria are among the lowest in the world
This is due to a sharp rise in unemployment and a rise in job demand much faster than the growth in available jobs.
Job losses accompanied by factory closures and capital flight from US dollars
The working environment had become unsuitable for continuing to work in the market, due to the strict restrictions imposed on them by the market, factories and public roads, and the restrictions imposed by the Central Bank and the Economic Committee on the free movement of money and goods to increase their extensive powers and crack down on the market.
The average salary of a government employee is between 20 and 30 dollars, keeping in mind that due to the cost inflation of the Syrian pound and its abnormal growth, the purchasing power of 30 dollars is currently equivalent to that of 20 dollars before the crisis.
Two hours of work in Europe pays the equivalent of a month’s salary for a government employee at a top university
If we deduct the transportation pay of government employees from their salaries, the math shows that one hour of work in Europe costs the equivalent of a month’s salary for a government employee at a top university.
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