Economic Turmoil in Damascus Following Regime Collapse
The streets of Damascus are experiencing a notable calm, yet many shops remain closed, leading to difficulties in obtaining goods amid a backdrop of rising prices. This situation follows the recent announcement of the fall of the Syrian regime, which has triggered celebratory manifestations across the country. The General Command of the Deterrence of Aggression Operation has issued directives aimed at restoring normalcy to the capital, where many state institutions have halted operations due to acts of sabotage.
Price Hikes and Commodity Shortages
In the wake of the regime's collapse, Damascus markets are witnessing significant price hikes and fluctuations in essential commodities. Reports indicate that the price of sugar has surged to between 50,000 and 60,000 liras ($4), a stark increase from 11,000 liras at the beginning of the month. Similarly, the cost of vegetable oil has risen to between 45,000 and 60,000 liras ($3 to $4), while rice is now priced at 45,000 to 50,000 liras ($3). Residents have expressed their frustration over these rising costs, with many struggling to afford basic necessities as shops remain closed and demand increases.
Government Response and Market Stabilization Efforts
In response to the economic challenges, officials from the Ministry of Internal Trade and Consumer Protection have assured citizens that there is a sufficient stock of wheat and flour to meet demand. The Ministry of Supply has been tasked with identifying and resolving issues to ensure that goods reach the markets promptly. Additionally, the Central Bank of Syria has confirmed its ongoing operations, assuring citizens that their deposits remain secure despite recent robberies. The bank has also noted an increase in transactions using foreign currencies, such as the Turkish lira and the dollar, amidst the ongoing turmoil.
