In December 2020, Syria’s annual inflation rate reached a record high of 163.1 percent, the largest year-on-year increase in decades, according to data from the Central Bureau of Statistics.
Osman Aidi, a well-known hotelier and businessman in Syria, passed away at the age of ninety last week. Although state-owned media did not report on his death, Mr Aidi was one of the few Syrian businessmen who was influential in Syria’s economy both before and after the Baath Party took control of the country.
On September 30, 2021, the British government delisted prominent Syrian businessman Nizar Al-Assaad, Former Agriculture and Agrarian Reform Minister Ahmad Al-Qadri, Former Minister of Defence Ali Habib Mahmoud, Former Minister of Industry Mohammad Maen Zein Al-Abidin Jazba, and Deputy Director-General of the Scientific Studies and Research Centre (SSRC) Salam Tohme from its sanctions list.
On September 22, the EU General Court dismissed Syrian entrepreneur Maher Al-Imam’s appeal to be dropped from the EU sanctions list after he was listed as an influential persona who supports the Syrian government late last year.
The Syria Recovery Trust Fund (SRTF) approved its second revolving community credit fund to support economic recovery and stabilisation in northwest Syria, in collaboration with the Near East Foundation, an American humanitarian NGO that focuses on peacebuilding, sustainable agriculture, and microenterprise development.