Syria’s official inflation rate continued to increase in March and April although it remained well below unofficial estimates of the CPI.
A committee set up by the government has listed seven consumer products that will fall within an administratively-priced system that the government wants to introduce to rein in the impact of inflation on the population’s purchasing power.
The government is working to ensure steady food supplies at least until the first quarter of next year, a government official said.
Several key economic portfolios changed hands in a government reshuffle last week that testifies to the growing deterioration of the Syrian economy.
Trade between Lebanon and Syria surged in the first half of this year, according to official statistics.
The number of Syrian refugees across the Middle East region is now close to 2 million or 10 percent of the country’s population prior to the uprising.
Syria’s official inflation rate remained above 50 percent in the first two months of this year although actual price increases are believed to be much higher.
The ministry of economy has specified the price and quantity of the food items that it will sell and distribute under its coupon scheme.
The Syrian Investment Agency licensed only twelve investment projects in the first half of this year.
Syria’s planning and international cooperation commission has a new director, Humam Al-Jazairi.
The Syrian President has appointed two new governors for the provinces of Homs and Quneitra.
Last week, the Syrian government added several key food items to the list of commodities it distributes under a coupon scheme, as the economic mood in Damascus becomes increasingly reminiscent of the early 1980s.
The government’s revenues from customs tariffs and fees declined last year on the back of falling foreign trade.
The Syrian government has no more revenues because of the ongoing conflict and the destruction of the economy, the Syrian Prime Minister has said.
Syria’s Baath Party has announced the election of a new regional command, which is formally the executive branch of the party in Syria.
Dama Rose Damascus Hotel
Damascus International Fairground