Syrian Currency Sliding Rapidly, Economy Facing Harder Time

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The Syrian economy is facing an even harder time than it has been facing during the war. The condition could have been more grave onwards, sources said. The nine-year-long Syrian civil war has left the national economic system scattered, with one-third of the 2011 economy now remaining.

The economy has reported a sharp drop in recent weeks. The Syrian pound has decreased by fifty percent over the last 12 months, and the force seems rapid in recent weeks; the nation has encountered high inflation in the wake of these circumstances. The black market reported it was trading at 535 to the dollar last year, which is above 1,000 currently.

According to the Financial Times, prices of essential commodities have surged more than 30 percent in Syria over the last three months. Civilians in the southern city Suwaida have performed street protests against the rapidly increasing cost of living; the move was performed versus the government despite knowing that it could result in the death of demonstrators.

From the start, the pound’s present difficulties appeared to be nonsensical. It declined in an incentive through the span of the war

The war is now about to be over. Syrian President Bashar al-Assad has regained most of the lost countries from the insurgents. Conceptually, the economic pace of Syria should have recovered. Though the pond is abruptly sinking and victims, Syrians are suffering worsening effects.

The Assad system has taken measures to stem the cash emergency, among them by constraining issuance of new import licenses and requesting affluent businessmen to store cash in the national bank.

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