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Olives Production in Quneitra


(ST)- Department of Quneitra Agriculture has estimated the governorate's production of olive for the current season about  6400 tones.

Director  of Quneitra Agriculture, eng. Naji Taqtaq has underlined that the area planted with olive trees is about 5537 hectares , an increase of 166 hectares from the last season, according to statistics of  Directorate of Agriculture,  and the cultivated area(growing on natural water supply)  is estimated at  4945 hectares and the number of trees (thriving on natural water supply) is estimated at  285.000 fruitful  trees .

The (watering) cultivated area amounts to 592  hectares , an increase of one thousand acres from the previous season and rate of 116 481 trees including  85 150 fruit trees , bringing the total fruitful olive trees in Quneitra about 370.000 trees .

The total production of (watering) olive is estimated at 2044 tons and the production of (Baal) olive is 3983 tons, so the total production for this year's olive harvest is estimated at 6,400 tons and an increase of about 350 tons from the last season and the expected production of olive oil is estimated at 1,500 tons .

Head of Fruit Trees Department,  Nasr Abdel Rahman,  pointed out that the agricultural plan in Quneitra for the agricultural season 2012 - 2013 attained an expansion in the cultivation of olive trees whereas the planted area reached about 170 hectares.


PM: New Credit Line Will Be Opened With Russia

(ST)- Prime Minister, Wa'il al -Halaqi, said the government will soon open a new line of credit with Russia, as a part of the economic measures taken by the government, with the aim of providing goods, foodstuffs and inundating the market. 

Dr. al Halaqi, during a meeting of commercial and industrial activities in the private and economic sector, pointed out the economic measures and legislation adopted by the government in order to provide commodity and goods to flood the market by increasing the activation of credit line with Iran and opening a new credit line again with the Russian Federation soon, in addition to the expansion of the positive intervention outlets, opening large exhibitions for shopping and activating the role of control over the markets. 

The Prime Minister stressed the importance of the central role of the private commercial and industrial sector, which is considered a reservist for the government in the development of the national economy, resources, boosting the country's potentials, ensuring requisites of living and daily needs of the citizens at affordable prices. 

He stressed that there is strategic actions taken by the Monetary and Credit Council and the Central Bank to ensure the stability of the exchange rate of the Syrian pound, which reflects positively on the reality of commodity prices in the market. 

The government, he added,  is keen to improve the living conditions of citizens and strengthening the capacity of the national economy. 

 Earlier, during a meeting with Russian Foreign Minister, Sergei Lavrov, Deputy Prime Minister, Qadri Jamil, expressed hope "to reach an agreement with Russia on granting Syria a loan by the end of this year, saying that the talk about the size of the Russian loan is premature. 

This government recently agreed on the recommendation of the Economic Committee to facilitate the procedures for the supply of materials and goods of the Islamic Republic of Iran across the line of credit facility agreement, sale pricing mechanism of these materials and expanding sales outlets. 

 The government signed last January the line of credit facility agreement estimated at one billion dollar between the Commercial Bank of Syria and the Export Development Bank of Iran. 

The governor of Central Bank of Syria, Adib Mayaleh, said that Iran has recently made a line of credit to finance the import of goods worth one billion dollars and can be increased immediately after its depletion and another credit line worth at $ 3 billion to finance the needs of Syria of oil and oil derivatives. 

Sharif Al -Khatib

Al-Halki calling Syrian Industrialists to Come Home

DAMASCUS ,(ST) - Prime Minister, Dr. Wael al-Halki , called on Syrian Industrialists and investors, who were forced to leave the country because of the ongoing crises, to come back to the homeland and to take part in preparing a new stage for reconstruction and the means to development.

Al-Halki's remarks came during his meeting yesterday with the Syrian Exporters Association for garments and textile, headed by Mohammad al-Sawah.

"The government seeks to promote the Syrian national industries  all over  the country in spite of all the hard circumstances ,it also offers many different  facilities through economic procedures to encourage the industrialists to increase their production". Asserted al-Halki.

He also mentioned the importance of the national will and dialogue to take decisions to encounter the ongoing crisis.

Pointing out to the unity of the army and the people, the premier added that the cycle of national economy is still evolving, medical and all other necessary commodities are available in the markets.

Members of the Association underscored their commitment to work inside Syria exporting their products to all the world. They also appreciate the government's exerted efforts to support the industrial sector and the textile industry in particular as it opens job opportunities for 40% of the labor force.

Head of the Association, Mohammad al-Sawah asserted the importance of the government's support to the Association by calling on all the Syrian industrialists and investors who left Syria to come back taking advantage of the possible facilities offered by the government..


CBS Works for Gradual Return of Dollar

DAMASCUS, (ST) -The Governor of the Central Bank of Syria (CBS), Dr. Adib Mayaleh, said that the tumble of the dollar in the Syrian market due primarily, in addition to the actions taken by the Central Bank, to the recession of the reasons that led to the rise of its prices quixotically through the exploitation of citizens' concerns about the current crisis in Syria, pointing out that these reasons centered on the decline of the pressures exerted by the countries and other bodies targeting Syria, which had a negative impact on a slice of citizens that compelled them to save their money in foreign currencies particularly the U.S. dollar.

"The decline of these pressures has paved the way until things straighten out and therefore it was a great satisfaction to a slice of people that have been affected and thus the citizen who was affected by this situation began to return to normal life gradually and what is more useful to him is also the start of the recovery of the cycle of domestic production to meet the needs of citizens, whose rate of consumption will rise again as a natural result of keeping their distance from saving and they start spending of their savings on their daily lives," Dr. Mayaleh pointed out.

 Those data, he stressed,  conduce to the return of the national economy cycle to normal levels, taking into account the fact that this return would be gradual as it slowed down gradually with the beginnings of the crisis that befell Syria, adding that the return to normal life gradually reduce the demand for the dollar and reduce of its brightness in the eyes of the Syrian citizens.

Effects of Deferred Impact

The Governor of the Central Bank of Syria has underlined the importance of the decisions and policies taken by the monetary authorities in Syria, that these decisions began to give real effect on a large -scale in the current period, taking into consideration  that monetary decisions do not give their effect immediately.

Such  decisions, he clarified, require a period of time so as to give the results and their implications effectively, taking into account the existence of a set of data and decisions that affect the exchange rate of foreign exchange in addition to a package of decrees and other legislations affecting in the exchange rate and determine its final results.

 Dr. Mayaleh considers the results reached by the Central Bank of Syria in the foreign currency exchange rate as good and important, but the most important of which is to maintain and ensure the continuity because of its importance in the purchasing power of the Syrian pound and value and thus its impact on the structure of the Syrian national economy.

Importance of Price Stability

What the citizens say and their expectations of a decline of the exchange rate to levels close to 150 pounds to the dollar by the Eid al-Adha and the expectations of the Central Bank of Syria in this area depending on the data that converge at the central bank, Dr. Mayaleh said that the monetary authorities’ work today aims to achieve one result, which is the stability of the exchange rate and stay away of instability which the exchange rate exposes from time to time in order to avoid the negative effects resulting from this fluctuation for the national economy, particularly imports from countries abroad and thus the reflection of these effects on the prices of goods and their values that bought by the Syrian citizen from local markets.

"The stability of the exchange rate will lead to price stability in general as a natural consequence of the ability of importers of the national merchants to fix the prices of deals of commodity that they import according to the current stable price," Dr. Mayaleh added.

Deflationary Policy

At the beginning of the crisis in Syria the Governor of  the Central Bank of Syria said that the CBS has a strategic reserve of foreign exchange for two full years and after two and a half year, the bank still has an abundant amounts of foreign currencies and  the Syrian pound is still strong despite all the difficulties encountered and the challenges experienced.

"Since the beginning of the crisis, the Syrian monetary authorities adopted deflationary policy where monetary authorities economized at its dealing to the dollar in order to maintain as much as possible from the strategic reserves of foreign exchange and did not adopt expansionary policy in this area that depletes the reserve, pointing out that the Central Bank of Syria continued, despite that, funding basic operations of the national economy such as financing the foreign imports due to its importance, in addition to the policy of spending foreign exchange for the purposes of intervention to curb the rises  occurring in the price of exchange rate in terms of not selling or spending one dollar, but in its right place," the Governor explained.

Dr. Mayaleh, in this domain, said that the interventions practiced by the Central Bank of Syria in this area did not cost the public treasury of the state of the strategic reserves.

Sharif al -Khatib

Damascus, Tehran sign gas agreement

(ST)- Damascus and Tehran recently signed a framework agreement for the transfer of Iranian gas to Syria through Iraqi territory. The agreement was signed by Iranian Oil Minister, Rostum Khasemi, and his Syrian counterpart, Suleiman Abbas in the presence of the Governor of the Central Bank of Syria, Adib Mayaleh in Tehran, according to SANA
The two ministers discussed following the implementation of the credit line concerning the imports of gas, oil and oil products to Syria, where the Iranian minister stressed his country's readiness to supply the needs of oil according to the specific programs. The two sides also held economic and commercial talks related to ensuring food and basic commodities.

Mr. Khasemi announced, in March last year, the approval of his country to supply Syria and Iraq with natural gas.

It is worth mention, Syria, Iran and Iraq signed, last July, a memorandum of understanding to build a pipeline to transport gas through a period of between three and five years.

The Iraqi government recently authorized its oil minister, Abdul Karim Lou'iabi, to sign the framework agreement to build a gas pipeline passing through its territory from Iran to Syria, with the possibility of extension thereafter to Lebanon and Europe.

Syria and Iran signed recently a number of joint agreements and contracts, which included a line of credit facility agreement worth one billion dollars and in the field of power and electrical equipment.

Sh. Kh.