{"id":122325,"date":"2025-02-20T08:24:03","date_gmt":"2025-02-20T08:24:03","guid":{"rendered":"https:\/\/npasyria.com\/en\/?p=122325"},"modified":"2025-02-20T08:24:04","modified_gmt":"2025-02-20T08:24:04","slug":"economic-analysts-doubt-accuracy-of-syrias-central-bank-inflation-report","status":"publish","type":"post","link":"https:\/\/npasyria.com\/en\/122325\/","title":{"rendered":"Economic analysts doubt accuracy of Syria’s Central Bank inflation report"},"content":{"rendered":"\n

By Abdulsalam Khoja<\/strong><\/h3>\n\n\n\n

QAMISHLI, Syria (North Press) \u2013 <\/strong>Economic analysts have raised doubts about the accuracy of a recent report issued by the Syrian Central Bank regarding the country’s general inflation rate for 2024, calling the report \u201cinaccurate.\u201d<\/p>\n\n\n\n

According to the Syrian Central Bank\u2019s report, the inflation rate in Syria for 2024 reached 57 percent, which is higher than Lebanon\u2019s 45.5 percent but lower than Turkey\u2019s 58.6 percent for the same period.<\/p>\n\n\n\n

A report that raises questions<\/strong><\/h2>\n\n\n\n

Commenting on the report, economist Mohammad Al-Hafid told North Press that its findings raise important questions. “Can the state sustain this decline in inflation?”<\/p>\n\n\n\n

He added, \u201cIn my opinion, this is unlikely because the decline is driven by short-term measures, such as external aid and temporary financial transfers, rather than long-term structural reforms.\u201d<\/p>\n\n\n\n

The report also noted that for the first time, Syria recorded a negative monthly inflation rate of -13.8 percent in December 2024, significantly lower than 0.1 percent in November of the same year.<\/p>\n\n\n\n

The Central Bank attributed this decline to a significant drop in inflationary pressures following a substantial increase in supply and an improvement in the exchange rate.<\/p>\n\n\n\n

Unusual indicator<\/strong><\/h2>\n\n\n\n

Al-Hafid described the negative monthly inflation rate as an unusual indicator, particularly for a country like Syria, which has been grappling with chronic economic crises.<\/p>\n\n\n\n

He explained that the decline was likely driven by the liberalization of the exchange rate and an increase in imports, but warned that it also signals potential economic contraction due to a drop in real income and purchasing power.<\/p>\n\n\n\n

\u201cThe lack of independent international oversight means that variables such as changes in measurement methodology and temporary foreign aid could affect the report\u2019s findings,\u201d he noted.<\/p>\n\n\n\n

For sustainable economic stability, al-Hafid emphasized the need for long-term policies that address the root causes of Syria\u2019s economic crisis.<\/p>\n\n\n\n

\u201cThese policies should focus on boosting local production, rebuilding infrastructure, stabilizing the exchange rate, and tackling financial and administrative corruption,\u201d he said.<\/p>\n\n\n\n

“This requires careful monitoring to avoid entering a state of recession or economic collapse.”<\/p>\n\n\n\n

He also warned that Syria\u2019s economic recovery remains fragile, making it vulnerable to setbacks in the face of political shocks, whether internal or external.<\/p>\n\n\n\n

Inaccurate figures<\/strong><\/h2>\n\n\n\n

Meanwhile, Syrian economic expert Ahmad Yassin dismissed the Central Bank\u2019s figures as inaccurate and unreliable, arguing that Syria\u2019s economy has lost its fundamental pillars.<\/p>\n\n\n\n

Speaking to North Press from London, Yassin stated, \u201cThe Syrian economy has lost its core foundations due to a series of economic sanctions imposed by major global economic blocs, which cannot be ignored.\u201d<\/p>\n\n\n\n

He pointed out that Syria\u2019s exclusion from the global financial system due to these sanctions has had a severe impact on the country\u2019s food supply and the ability of financial institutions to accurately assess inflation levels.<\/p>\n\n\n\n

\u201cThe figures released by the Syrian Central Bank are unreliable, and under such a sensitive economic situation, no financial institution can provide an accurate and realistic assessment of Syria\u2019s economy,\u201d he said.<\/p>\n\n\n\n

Yassin believes that Syria\u2019s economic recovery hinges on one key factor, the immediate lifting of sanctions to allow the economy to regain its footing and resume normal activity.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Abdulsalam Khoja QAMISHLI, Syria (North Press) \u2013 Economic analysts have raised doubts about the accuracy of a recent report issued by the Syrian Central Bank regarding the country’s general inflation rate for 2024, calling the report \u201cinaccurate.\u201d According to the Syrian Central Bank\u2019s report, the inflation rate in Syria for 2024 reached 57 percent, […]<\/p>\n","protected":false},"author":11,"featured_media":122326,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"pgc_sgb_lightbox_settings":"","footnotes":""},"categories":[39,10],"tags":[],"class_list":["post-122325","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home","category-reports"],"yoast_head":"\nEconomic analysts doubt accuracy of Syria's Central Bank inflation report<\/title>\n<meta name=\"description\" content=\"By Abdulsalam Khoja QAMISHLI, Syria (North Press) \u2013 Economic analysts have raised 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