Damascus is making an effort to stabilise the economic situation in the country hurt by the war, the COVID-19 outbreak and US sanctions. Economist and writer Dr. Ibrahim Alloush has explained what steps should be taken to bring Syria back on the peaceful and prosperous track.
On 21 October, President Bashar al-Assad exempted more low-wage earners from income tax, as Syrians are suffering from the steep rise in prices and the depreciation of the Syrian pound. The Syrian Arab Republic is struggling with an economic crisis caused by the coronavirus pandemic, the nine-year-long war, large-scale emigration, energy and food shortages, and a crumbling industrial base.
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