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.
Syria’s inflation rate reached 55 percent last December, the last month for which price changes have been reported, according to a government report.
Syria’s state-owned institutions have suffered from total losses of SYP 1.5 trillion since the beginning of the popular uprising two years ago, according to the government.
Iran is providing an “unlimited credit line” to Syria to purchase food and oil products, Qadri Jamil, the deputy PM in charge of the economy, said.
Iraq’s Prime Minister has said that his government has rejected a Syrian request to deposits funds in Iraqi banks.
Data released by the World Bank confirm the poor performance of the Syrian economy in 2012.
A presidential decree has raised the pay of civil servants only days after an increase in the price of gas oil.
Facing growing difficulties to supply foreign currencies to the market and as inflation continues to increase, the government imposed last week severe restrictions on import trade by the private sector.
The number of Syrian refugees in neighbouring countries has crossed the 1.6 million mark, according to the latest estimate by the United Nations refugee agency.
The Syrian President has appointed a new governor for the province of Lattakia.
Syria’s trade balance with Iraq was largely positive last year, a government official said.
The Syrian government is planning to raise tax rates across the board in a bid to slow the decline in its revenues.
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