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PM Hussein Arnous Identifies Five Factors Behind Collapse of Syrian Pound

PM Hussein Arnous Identifies Five Factors Behind Collapse of Syrian Pound
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12 years on, revolution service institutions under Turkish authority

Syria s central bank adjusts exchange rates, lagging behind the black market

Damascus is reducing the gap between the official dollar exchange rate, which lags behind the widely used black market rate. The latter is the lodestar for Syrian traders, as it reflects the real value of the Syrian pound.

Syrian economy in foreign hands: Will they cover Syrian government s deficit or pay off its debts?

Enab Baladi Enab Baladi-Sakina Mahdi Russia and Iran, allies of the Syrian regime, are bolstering their economic power in Syria in addition to their military presence. The two countries are wrangling for business influence over energy resources and vital financial and industrial establishments by signing long-term contracts with the Syrian government. These long-term contracts ensure their political and economic interests in Syria and recuperate some of the costs and expenses incurred during war years.  Iran has specific economic goals in Syria which contradict Russia’s economic policies; Iran is trying to dominate investments in many sectors such as oil, gas, and reconstruction. In return, Syrian officials seek to obtain military and political support and assistance from the two countries. As a result, Russia and Iran could control Syria’s economic options. 

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