The Central Bank of Syria, in its bulletin on customs and aviation, amended the price of the dollar (customs) to become 6,500 pounds instead of 4,000 pounds, with an increase of 34 percent.
The Central Bank, in its penultimate bulletin (Customs and Aviation), determined the price of the dollar at 4 thousand pounds and specified the time period in force from 1-15 of this month, but with yesterday, May 9, 2023, it modified (raised) the price of the dollar in the bulletin, which raised a state of fear of A new wave of price hikes that we are on the verge of, in parallel with the implementation of the bulletin.
For his part, expert Ayman Dayoub from the Faculty of Economics warned in statements to Al-Watan newspaper that the amendment of the dollar (customs) bulletin represents a new inflation episode in the Syrian economy cycle and will have a direct impact on prices because the costs of imports have risen, and thus the prices of imported materials and goods have risen with them. The local market, so that the rise in prices is minimal, corresponding to the increase in the customs value of imported materials.
And Diop indicated that the justification for the increase is not clear, especially since most of the trends during the last period were about controlling the state of inflation and achieving near stability in the exchange rate. This could contribute to mitigating the expected inflation situation.
This article was originally published by RT.
