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- 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.
www.worldbank.org/en/country/syria/publication/economic-update-april-2022
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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 · The economic condition in Syria is projected to continue to be mired by the low intensity conflict, turmoil in Lebanon and Turkey, the COVID-19 pandemic, and the economic consequences of the war in Ukraine and associated sanctions.
The Syrian economy suffered from conflict-related hyperinflation. The Syrian annual inflation rate is one of the highest in the world. The national currency, the Syrian pound, tumbled in mid-2020 against the US dollar, therefore stating that Syrian economy was only taking a turn for the worst. The pound, which traded at LS 47 to the dollar ...
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...
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.
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.
Jun 15, 2020 · Last week the Syrian pound fell to 3,500 to the dollar on the black market, destroying the purchasing power of government employees. Prices for imported staples such as sugar, coffee, flour and...
