Syrian government concerns economy fluctuates as impact of Ukrainian crisis
QAMISHLI, Syria (North Press) – The Syrian government decided to cut down the general spending in an attempt to limit the impacts of the Ukrainian crisis on the Syrian economy.
The government decided to ration the general spending in a way to cover “only” the priorities in this period fearful that prices of fuel and wheat will hike significantly.
Two days ago, cabinet of the Syrian government held an exceptional mini-session in response to the developments in the Ukrainian file. The session aimed to administer the possible ramifications on the Syrian economy and study scenarios to deal with it.
In a statement, the cabinet said it held a session to discuss the government measures to administer the economic and living conditions in the wake of the recent developments.
The statement pointed out that the Syrian economy is already suffering multiple difficulties due to the shortage of main staples notably oil, wheat and energy resources.
The Syrian officials decided, following the session, to restrict the reserves of the main staples like wheat, sugar, oil and rice for the next two months, monitor the stuff closely and ration them.
The government also decided to tighten control over the exchange market.
Muhammad Samer al-Khalil, Minister of Economy and External Trade of the Syrian government, said the Crimean peninsula offered to export wheat to Syria and that Damascus is currently considering the offer.
Syria depends on wheat exported from Russia and oil shipments from Iran.
Al-Khalil said the Ukrainian crisis will have impact on the economy of the whole world as well as on Syria’s economy.
The Russian government has been a key ally of Syria’s al-Assad throughout the Syrian war that erupted in 2011, and the Russian military intervention helped turn the tide of the war in al-Assad’s favor.
On February 24, Russia announced a military action against Ukraine and launched aerial strikes across Ukraine specially in the capital Kyiv.