Arab Today, arab today allies help syrian economy find equilibrium
Last Updated : GMT 10:54:55
Arab Today, arab today
Arab Today, arab today

Allies help Syrian economy find equilibrium

Arab Today, arab today

Arab Today, arab today Allies help Syrian economy find equilibrium

Damascus - XINHUA

The Syrian government had weathered its worst economic crisis thanks to the support of friendly countries, the country\'s top economist said, but adding that the economy still falls short of true recovery, at least in the foreseeable future. Iran, Russia among other friendly countries had been supporting the Syrian government politically, militarily and economically, Qadri Jamil, Syrian deputy prime minister for economic affairs and the minister of domestic trade and consumer protection, told the Financial Times, indicating that all transactions in the country had been done through the Iranian rial, Russian ruble to avert the western sanctions on Syria. HELP FROM IRAN, RUSSIA The deputy prime minister said the allies were supporting Syria with around 500 million U.S. dollars per month for financial dealings involving oil and open insurance lines, which would definitely support the war-torn country in its counter-attack against what he called \"the foreign conspiracy to drown the Syrian pound.\" He continued that Syria has an unlimited credit line with Tehran to import oil and food, and the Damascus had replaced its former dealings with the U.S. dollar and the Euro with the Iranian and Russian currencies. Syria\'s oil exports alone cost around half billion dollars a month, he contended, describing the economic situation as \"very complicated and difficult, but it hasn\'t reached the point of no return.\" Syria\'s oil production dipped from 380,000 barrels a day before the crisis to around 20,000 barrels following the repetitive attacks against oil and gas wells in the country. SYRIAN POUND PLUMMETS The reassurance came at a time when the Syrian people are preoccupied with the expenses of the imminent holy month of Ramadan amid a further projected fall in the cost of living owing to the currency\'s dive and the hike in consumer commodities\' prices. Since mid June, the pound has sharply depreciated against the dollar and it dropped from 170 pounds per dollar to around 205 pounds within two weeks, inflaming the prices of all goods in the markets. Jamil had accused Saudi Arabia, the United States and Britain of attempts to undermine the Syrian currency. \"Riyadh, Washington and London manage a conspiracy to undermine the Syrian currency by flooding Lebanon and Jordan with Syrian pounds,\" he said. He accused his government\'s opponents of launching a \"financial war and a military campaign against it through Western sanctions ranging from a ban on the Syrian oil to the prohibition of remittances through banks and credit cards.\" Ammar Youssef, a local economist said that without the intervention of the Central Bank of Syria, the pound would have been sold at 2,000 per dollar. He added the pound will recover once the conflict in the country is drawn to an end, and the wheel of the Syrian economy will move again through new investments, which will eventually lead to the return of the dollar to less than the pre-crisis price. For his part, Prime Minister Wael al-Halqi assured recently that the national economy was balanced and adapting itself to the developments and the complexities of the crisis, which has entered the third year, through a package of measures the government is taking in line with the immediate variables.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today allies help syrian economy find equilibrium Arab Today, arab today allies help syrian economy find equilibrium

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today allies help syrian economy find equilibrium Arab Today, arab today allies help syrian economy find equilibrium

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Writing's on the wall for Trump, Zuckerberg

GMT 09:05 2017 Thursday ,19 October

Writing's on the wall for Trump, Zuckerberg
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Hussein Fahmy happy for honoring in festival

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday