Prime Minister: Restructuring subsidy has economic, social and national goals

Prime Minister Eng.Hussein Arnous has affirmed that the goal of restructuring the subsidy is purely economic, social and national and will reflect positively on society despite the difficulties it brings. It also aims to “re-reduce the budget deficit and allocate a financial mass to support the poorest families and production and to improve the purchasing power of citizens and support the stability of the exchange rate of the lira.”

Eng.Arnous said in an interview with Al-Watan newspaper that “the subsidy value in the 2022 budget amounts to about 6.000 billion Syrian pounds without calculating the electricity subsidy out of the total budget, which amounts to approximately 13.500 d billion pounds. This amount increases the budget deficit and its results will be very negative on the country’s economy.”

The Prime Minister added, “the process of restructuring the subsidy can lead to a reduction of 1000 billion out of the 6000 billion, which in turn will  reduce the budget deficit by a portion of this amount. It will also result in the redistribution of the remaining part of it to the neediest families and in support of production and some groups and professions that need this subsidy much more than others.

The premier underlined the continued support of agricultural sector to secure wheat and flour to the bakeries so that bread remains available at an acceptable price for the citizen who deserves to get it at this price.”

Inas Abdulkareem