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- Syria’s economy has hit its lowest point since the country’s civil war began nearly 12 years ago, with severe fuel shortages in both government and rebel-held areas, spiraling inflation and the Syrian currency hitting an all-time low on the black market.
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Jan 31, 2022 · Syria is facing the worst economic crisis since the war began—a situation that is likely to deepen in 2022 and exacerbate food insecurity for millions. The crisis is driven by a range of factors, including the COVID-19 pandemic and the economic collapse in neighboring Lebanon (also on the Watchlist this year).
Feb 18, 2021 · Destruction of essential infrastructure and loss of life coupled with years of economic negligence have left the Syrian economy in tatters. According to the World Bank, the Syrian economy has shrunk by more than 60 percent since 2010, and the Syrian pound has crashed. Pre-war, the Syrian pound traded near 50 SYP to the dollar.
Oct 26, 2022 · UNITED NATIONS (AP) — Syria is facing “acute violence,” the worst economic crisis since the war began in 2011, and a rapidly spreading cholera outbreak with more that 24,000 suspected cases reported throughout the country and at least 80 deaths, U.N. officials said Tuesday.
- How Bad Is The Crisis?
- What Is Driving The Deterioration?
- What Is The Situation in opposition-controlled areas?
- Could Another Mass Uprising occur?
The Syrian pound hit an all-time low of 7,000 pounds to the dollar on the black market last week before rebounding to around 6,000. It’s still a significant plunge, given the rate was around 3,600 one year ago. The central bank increased the official exchange rate from 3,015 to 4,522 on Monday, apparently trying to entice people to use the official...
Apart from years of war, sanctions and widespread corruption, Syria’s economy has gone through a series of shocks since 2019, beginning with the collapse of Lebanon’s financial systemthat year. “Given the open borders between Syria and Lebanon and both of them (being) increasingly cash based economies,” their markets are inextricably linked, said N...
Every year, residents of makeshift displacement camps in the last rebel-held stronghold in the northwestern province of Idlib suffer through storms and freezing weather. This winter, they have also been hit by the economic crisis in neighboring Turkey, which controls large swaths of territory, as well as by rising prices and shrinking aid caused by...
If the crisis continues, there will likely be more protests, analysts said. But they largely dismissed the possibility of a new nationwide anti-government uprising like the one that erupted in 2011, prompting a bloody crackdown that threw the country into civil war. Daher noted that recent protests have been fragmented and localized. For now, he sa...
Oct 25, 2022 · Syrians are facing a bleak winter as they endure the worst economic crisis since the civil war began in 2011, the UN special envoy to the country said on Tuesday.
- Adla Massoud
Jan 25, 2023 · Almost twelve years into Syria’s devastating civil war, the country remains tattered and deeply divided, facing massive economic hardships, limited political progress and the world’s...
Dec 21, 2022 · Humanitarian needs in Syria have reached their worst levels since conflict began nearly 12 years ago, the Security Council heard on Wednesday.
