“The war of hunger … scares me more than the war of cannons”: As inflation soars, Syria’s economy spirals downward
“The war of hunger … scares me more than the war of cannons”: As inflation soars, Syria’s economy spirals downward
March 15, 2021 Share
As the Syrian conflict reaches its 10-year anniversary, the economic consequences of a decade of war have been nothing less than catastrophic. Instability and inflation are likely to remain major problems over next 10 years and possibly well beyond but for now they have created a new level of despair in government-held areas.
The Syrian economy has entered its most fragile phase yet and the prospects of a serious recovery remain all but a distant hope as the fiscal challenges confronting the country far outweigh the meagre remedies on offer. The exchange rate of the Syrian pound has skyrocketed to an estimated 4,250 SYP to the U.S. dollar a more than eighty-fold rise from the pre-war