Public Personnel Costs Declined by a Yearly 5% to $3.40B in January 2016

According to the Ministry of Finance, personnel costs dropped by a yearly 5% to $3.40B in January 2016. In details, the fall in personnel costs was justified by a 10% year-on-year plunge in their salaries, wages and related benefits. However, retirement salaries witnessed an upturn of 5%, while service indemnities was the same in January 2015 and January 2016. Moreover, transfers to public institutions to cover salaries escalated by $2M mostly due to the rise in transfers to the Educational Center for Research and Development.

Personnel costs constituted the highest share of current primary expenditures, which plummeted from 59% in January 2015 to 49% in January 2016. As such, this fall can be attributed to higher current primary expenditures, which rose by 14% y-o-y in January 2016.

Breakdown of Salaries, Wages and Related Benefits in January 2016 (in $M)

20152016% change
Military Personnel 184.41 137.31-25.54%
Education Personel 43.12 49.7515.38%
Civilian Personnel 27.86 27.20-2.38%
Government Contribution to Employees Cooperative – 13.27 
Customs Salaries 1.99 1.990.00%
Total 257.38 232.17-9.79%


Source: Ministry of Finance



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