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Syria's Rapidly Worsening Economic Troubles

(Washington Post) Sarah Dadouch - The main threat facing the Syrian government of President Bashar al-Assad as he regains control over most of his country is not military but economic. The currency has plunged to half its value in 2019. The prices of some consumer goods have doubled, and those of staples such as meat and vegetables are up as much as 50%, according to official estimates. The government plans to ration sugar, rice and tea. The steep drop in the Syrian currency is largely the result of an economic crisis in neighboring Lebanon, which has seen the Lebanese pound's value decline significantly. Lebanon is a hub for Syrian traders and business executives. "Lebanon was Syria's only lung," said Samir Aita, a Syrian economist based in Paris. "Austerity in Lebanon will be a disaster for living conditions in Syria."
2020-01-23 00:00:00
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