SYRIA GOVERNMENT PROMISES TO FIX ECONOMY CRISIS

       Damascus, 6 Ramadan 1434 / July 14, 2013 (MINA) – Syrian Prime Minister Dr. Wael al-Halqi on Saturday (13/7) confirmed that the government committed to improve the economic condition providing daily needs and expand the delivery of goods and groceries.

       Chairing a meeting of the committee for restructuring government-provided subsidization, Premier al-Halqi said this meeting aims at establishing new economic mechanisms to help citizens bear the burdens caused by the current crisis.

       He said that the government is working hard to overcome challenges despite the economic sanctions and the economic and media warfare waged on Syria, with these challenges including some merchants running a monopoly on certain good and USD exchange rate speculation.

       Al-Halqi stressed the need for the Internal Trade and Consumer Protection Ministry to monitor prices in markets and hold those who manipulate prices accountable, in addition to providing various goods in retail outlets.

       He also underlined the need to find suitable mechanisms to ensure that support reach those who need it. SANA news agency reported as monitored by Mi’raj News Agency (MINA).

       Discussions during the meeting tackled means for improving citizens’ living conditions in light of the rising prices and the possibility of expanding subsidization to cover petroleum products and basic food materials.

        For his part, Governor of the Central Bank of Syria (CBS) Adib Mayyaleh pointed out that the CBS is supporting both government and private sector imports, with the highest USD exchange rate for state imports reaching SYP 130.

        Mayyaleh said that considering the USD exchange rate, the fluctuating market prices are unjustified, and that the real cause of them is monopolies, speculation and exploitation by some merchants who must be held accountable.

        The committee decided to tasked the Deputy Prime Minister for Economic Affairs to coordinate with governors to set retail outlets for subsidized goods, instructing ministries to open similar outlets in their establishments.

        The committee also tasked the Economy and Foreign Trade Ministry and the Internal Trade and Consumer Protection Ministry with monitoring the flow of goods imported from Iran through the credit line and make them available in markets in order to reduce prices.

        Other decisions include adding new materials to the list of subsidized goods, including tea, burgul (ground wheat grain), ghee and vegetable oil, and providing each family with 400 liters of heating oil for use during winter. (T/P04/P03)

Mi’raj News Agency (MINA)