Inflation (280)

11-12-2019

The Central Bank of Syria has introduced a new exchange rate for international organisations operating in Syria, allowing them to change dollars into pounds at a rate well above the official price.

27-11-2019

The Syrian government has significantly increased the salaries of civil servants, a move that will provide welcome short-term relief, but will also accelerate inflation and the depreciation of the currency.

20-11-2019

The government has increased its income from properties rented to the private sector by almost 50 percent this year, confirming the sector’s potential to generate revenues.

06-11-2019

Syrian imports of Iranian crude oil doubled in the six months through the end of September, according to recent data, increasing inventories.

16-10-2019

The government’s return to north-east Syria following the Turkish onslaught on that region is set to have an important impact on the country’s economy, in particular its energy, agriculture and trade sectors.

18-09-2019

Syria’s gold market remains disrupted by tensions between goldsmiths and the Ministry of Finance, unstable prices and the spread of unmarked gold.

03-09-2019

The Syrian pound has fallen to its lowest level on record relative to the U.S. dollar in the local foreign exchange market.

28-08-2019

The annual percentage change in the consumer price index in Syria since 2010.

27-08-2019

Syria’s inflation rate started to increase again at the end of last year although it remained below its post-2011 average.

31-07-2019

The government has increased significantly the price of gas canisters used by businesses, as shortages bite; the move will push the inflation rate higher.

24-07-2019

The government is forcing importers to sell part of the products they import to state entities at cost price in bid to limit inflation on consumer goods.

17-07-2019

Syria’s inflation rate remained mostly flat up to August last year, according to official data.

03-07-2019

The first private sector photovoltaic solar power plant has started producing in the Industrial City of Hessia (ICH) and has been connected to the national electricity grid, a government official has said.

25-06-2019

Hazem Qarfoul, the governor of the Central Bank of Syria, has implicitly admitted that defending the value of the Syrian pound in the foreign exchange market was no more a priority.

05-06-2019

After months of continuous decline, the value of the Syrian pound in the local foreign exchange market stabilized in May, although it seems unlikely to regain ground.

08-05-2019

The Central Bureau of Statistics has provided new population and household expenditures data based on a large survey it conducted at the end of 2017.

01-05-2019

In the first five months of 2018, Syria’s inflation rate was largely flat and in some months prices even declined, official data show.

16-04-2019

In 2017, for the sixth year in a row, Syria’s gross domestic product declined, although at a slower pace than in previous years, while the government’s contribution fell significantly, official data show.

27-03-2019

The following is the OFAC advisory warning actors of the global maritime industry involved with supplying oil to Syria. This text is published following its update of March 25, 2019.

27-02-2019

The Central Bank of Syria has raised SYP 130.8 billion, USD 244.5 million at the current market exchange rate, for its first issue of certificates of deposit.

06-02-2019

The Central Bank of Syria has announced that it will issue certificates of deposits later this month for the first time in its history, as the government seeks to raise funds to pay for its expenses.

05-02-2019

The Syrian pound is resuming its downward slide and has already lost some six percent of its value relative to the dollar since the beginning of the year.

04-12-2018

Syria’s inflation rate was almost flat last year as some product categories actually witnessed a decline in prices, new data from the government indicate.

20-11-2018

New taxes by the Ministry of Finance are increasing significantly the price of gold, an important store of value for Syrian households.

13-11-2018

The Syrian pound has fallen to its lowest level in a year relative to the dollar and is now close to crossing the 500 mark in the black market.

09-10-2018

The average required expenditure budget of a Syrian household needed to meet its most pressing requirements has remained stable in the first half of this year, according to a local report.

04-09-2018

The Credit and Monetary Council of the Central Bank of Syria has changed the interest rates banks pay on their customers’ deposit accounts.

21-08-2018

A company managing one of the main commercial malls in Damascus has reportedly been stripped from its contract to the benefit of an influential regime crony, highlighting the increasingly insecure Syrian business environment.

05-06-2018

The Syrian government is increasing the pay of its soldiers by 30 percent.

04-06-2018

Syria’s inflation rate continued to decelerate rapidly in the Spring of 2017, falling below 30 percent for the first time in three years, official data show.

15-05-2018

Syria’s gross domestic product fell in 2016 to a fifth of its pre-uprising value according to official statistics released for the first time.

20-03-2018

Damascus has been ranked the cheapest city to live in the world out of 133 large cities listed in a recent survey.

20-03-2018

Payment facilities and restrictive measures have ensured a sharp increase in the Large Taxpayers Unit of the Ministry of Finance last year.

06-02-2018

Syrian official data have confirmed that inflation continued to decelerate at the beginning of last year.

23-01-2018

Only days after allowing local banks to resume lending, the Central Bank of Syria has partly backtracked on its decision for fear of pressures on the pound.

16-01-2018

Syria’s dramatically poor rainfalls are threatening to have serious economic consequences this year.

09-01-2018

The average monthly income needed to meet the requirements of an average household in Damascus has mostly remained unchanged last year, the first time it does not increase since 2011, according to a pro-regime media.

21-11-2017

The financial results of some of Syria’s largest companies show an increase in revenues across the board, albeit from very low levels.

24-10-2017

Syria’s inflation rate remained high in 2016 official data show, although the increase in prices began to decelerate by the last quarter of the year.

10-10-2017

The Ministry of Domestic Trade has decreased the price of several food items as the improvement in the value of the pound helps reduce import costs.

03-10-2017

The Damascus Securities Exchange attracted again investors last month on the back of the rapid advances of regime forces in the east of the country, after months of relative stagnation.

26-09-2017

The Syrian Government’s drive to collect more revenues from its real estate properties has started to generate some results, government officials have said, as another source of revenues being considered is an increase in taxation on properties.

19-09-2017

The Syrian Prime Minister has criticized his predecessor for spending 14 billion dollars of foreign currency reserves, while announcing the doubling of a tax dedicated to finance reconstruction.

28-08-2017

Syria’s inflation was 50 percent in October, the last month for which data is available, a very high rate but still a decrease relative to previous months.

22-08-2017

As local production of fertilizers resumes, the government has increased again the price of fertilizers sold to its farmers, which will make farming less competitive and discourage further agricultural production.

07-08-2017

Updated on August 22, 2017: The latest inflation data indicate that the rate of price increases was stable but still very high in the fall of last year.

25-07-2017

Syria’s wheat and barley production increased this year while the improvement in security has helped reduce price inflation on many agricultural products, a report by the FAO has found.