Syrian government reviews economic developments with advance planning

There are military and political developments that occur in the world due to the impact of the ongoing Russian military operation in Ukraine, which aims to restore balance to this world. Therefore, it is necessary to plan to deal with it and work to reduce its effects on Syria and the Syrians, and this can only happen with the concerted efforts of ministries, unions, experts, industrialists, traders and producers.

During the Cabinet’s expanded meeting on Saturday, the measures that were recently approved as an emergency response to global economic developments  were put on the table for evaluation, analysis and discussion, and to assess their adequacy, feasibility, and degree of protection for the Syrian market and the livelihood of citizens.

Prime Minister Hussein Arnous underlined the need to follow up on preventive measures and policies in an applicable manner to boost the production wheel and internal and external marketing channels and to ensure that the local market needs of various basic commodities and materials are secured. He pointed out to the efforts made by the national business sector in facing the challenges facing the Syrian economy.

Representatives of the industry and trade sectors expressed their readiness to work to confront the emerging economic conditions, but in turn indicated the need to take facilitating financial and monetary measures that contribute to reducing financing costs, facilitating access to various sources of financing, and granting greater flexibility with regard to customs and foreign trade procedures.

With the aim of following up on joint coordination for the next phase, the Cabinet agreed to form a follow-up committee from the Federation of Chambers of Industry and Commerce, to coordinate with the concerned authorities and provide practical visions and proposals to respond appropriately to market developments and serve interests of the industrial and commercial sectors.

Inas Abdulkareem