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Syria's Ailing Economy Poses a Threat to Assad

(New York Times) Anthony Shadid - Hotels that catered to sandal-wearing backpackers in the storied Syrian city of Aleppo stand empty. Capital from the Persian Gulf that underpinned Syrian ambitions of modernization has begun to dry up. The Syrian pound has faltered, exports have fallen and the government has promised respite with money it will not have for long. Market reforms that cut subsidies on food and fuel over the past seven years stoked frustration, worsened by a devastating drought that began in 2006 and drove 1.5 million people from the countryside to cities without enough jobs. The health of the economy may determine how the unrest evolves.
2011-06-24 00:00:00
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