QAMISHLI, Syria (North Press) – As temperatures rise above 40 degrees and the exchange rate of the Syrian pound plummets against the US dollar, Helil gets frustrated because the daily income he makes from selling ice cream in a popular market in the city of Qamishli, northeastern Syria, is gradually dwindling.
Hussein Helil, 25, works with his dad in selling ice cream to support his seven-member family. He told North Press, “I make between 40,000–50,000 Syrian pound (SYP, which equals about $3-3.8) every day, but it is not enough due to high prices.”
The depreciation of the Syrian pound took a toll on Helil’s purchasing power. He said, “We used to buy chicken once a week. Now, we barely buy it once a month and sometimes we do not.”
The Syrian pound plummeted in the past week, surpassing the 13,000 SYP threshold per dollar on the black market.
Syria has been experiencing a severe economic crisis for several years, with one of the main drivers being high inflation rates. The inflation rate in Syria has skyrocketed due to a combination of factors, including the ongoing civil war, economic sanctions, and a shortage of essential goods.
The high inflation rate in Syria has had a devastating impact on the country’s population, with many struggling to afford basic necessities such as food, housing, and healthcare. The ongoing conflict in Syria, coupled with the economic crisis, has led to a humanitarian catastrophe, with millions of Syrians displaced and in need of aid.
Abduljabar al-Abassi, a food store owner in Qamishli, complains about the deterioration of the economic conditions that affected the purchasing power of the population.
He told North Press, “Selling has significantly declined due to the rise of the exchange rate of the dollar with almost 5,000 SYP margin in the past few days.”
The prices of goods in the US dollar have not changed, but the value of the Syrian pound against it has dropped, dramatically aggravating the situation. “The salary of Syrian government employees is now worth only seven dollars, whereas on average, they need 100,000 SYP (equals about $7,6) per day. This goes for employees of the Autonomous Administration of North and East Syria (AANES), who receive an average salary between 500,000 and a million SYP (less than $100). Hence an employee needs $300 per month to make ends meet,” al-Abassi added.
This crisis is all that the locals talk about. Employees in the public sector now realize their salary is barely enough to buy two kilograms of meat. Many called on authorities to find solutions to enhance the living conditions.
On July 24, Syria’s People’s Assembly (Parliament) held an extraordinary meeting to discuss the economic reality and the exchange rate of the US dollar. However, the meeting ended without reaching solutions to this crisis.
Al-Abassi noted that people come to his store but leave without buying anything because of the high prices. “Instability of the dollar affects our business. We suffer losses as well, and our debts accumulate. Most stores closed their doors due to high prices,” he added.
Prices of goods are gradually rising daily. The AANES escalated the situation by increasing the prices of fuel and bread.
Store owners in Qamishli confirmed, many people stopped buying meat and many basic needs, only purchasing what is necessary. They expressed their fears that matters might get worse.
Muhammad Hartoosh, who sells vegetables and fruits on a stand in a public market in Qamishli, told North Press he hardly makes 50,000 SYP per day and wonders, “I do not know how my family and I will survive.”
“The people can no longer bare the exorbitant prices of goods. Living conditions have become extremely difficult. The situation is tragic. I dread where we are heading,” Hartoosh said.