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Feb 18, 2021 · 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. As of January 2021, it was formally trading at over 1,250 SYP and informally at over 3,000 SYP.
Apr 14, 2022 · Socio-economic conditions are deteriorating rapidly in Syria, affected by a range of shocks including prolonged armed conflict, economic sanctions, the COVID-19 pandemic, a severe drought, deepening economic crises in neighboring Lebanon and Turkey, and the economic consequences of the war in Ukraine and associated sanctions.
May 24, 2024 · More than a decade of conflict compounded by external shocks have further worsened Syria’s dire economic situation in 2023 and led to a dramatic deterioration in the welfare of Syrian households, according to two new World Bank reports released today.
Although the government instituted limited reforms to respond to the burgeoning crisis, Syria's pressing economic problems required a radically restructured economic policy to improve future economic performance.
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.
Feb 25, 2021 · Syria’s fragile economy has “suffered multiple shocks” over the past 18 months, with its currency plummeting and joblessness swelling as people struggle to cover their basic needs, the UN...
Aug 16, 2023 · Syria's government has doubled public sector pay while at the same time cut fuel subsidies, as it tries to boost the war-torn country's economy.
