Syrian banks are capitalising on a recent law to put pressure on their debtors.
The Syrian Pound has continued its decline crossing the level of 260 per dollar today in the Syrian currency market.
Syria’s stock market index was unchanged last week, while trading values remained low.
The Syrian Pound has continued its decline, shedding around four percent relative to the dollar in the last month.
Tax evasion in Syria is at some 8 percent of GDP, according to estimates produced by the General Workers Union.
The value of the trading in the Syrian bourse last week was a paltry USD 35,000.
Syria’s 14 private sector have released their preliminary results for last year, although changes in currency prices make it difficult to assess the health of the sector.
Syria’s stock market index remained unchanged last week amid low trading volumes.
The value of trading in the Damascus Securities Exchange increased last week, largely over transactions on a single stock, as did the market index.
After rising to above 250 pounds at the end of last week, the dollar fell back to around 235 pounds in the Syrian black market today.
Syria’s stock market index lost almost one percent last week falling under the 1,240 mark for the first time since April of last year.
The Syrian Pound last week has continued to decline relative to the US dollar and was traded at up to 240 per dollar today in the black market.
Two listed companies have announced changes to their board of directors.
Damascus International Fairground
SME Support Fund
Damascus Chamber of Commerce