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Economic woes persist in Syria as new government faces mounting challenges

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      Economic woes persist in Syria as new government faces mounting challenges

      2025-03-15 21:57 Last Updated At:22:57

      Syrians remain burdened by economic instability and security challenges following the ousting of Assad's government and the establishment of a new administration in December last year.

      Saturday marks 14 years since the outbreak of the Syrian civil war. Even with a new government established in December, Syrians continue to grapple with deep economic challenges, including unemployment and soaring inflation.

      Amid a worsening economic crisis and soaring unemployment, the new government has struggled to revive the economy, leaving vulnerable groups, particularly the elderly, in extreme poverty.

      To mitigate the crisis, the government has introduced bank withdrawal limits, but the policy has only added to residents' woes. In a country with limited alternative payment options, people are forced to spend hours in line just to secure enough cash for their daily needs.

      "I have not been paid for four months. Recently the government issued a decision to give us our payments, so I came here today. It is too difficult for a retiree to live four months without any income," said Adham Malek, a Syrian Retiree.

      Many Syrians have resorted to purchasing large quantities of bread during Ramadan and reselling it on roadsides to earn a modest daily income, as job opportunities remain scarce.

      "The economic situation in Syria is bad. Items are abundant, but there is no purchasing power and no money, so how can I buy things? If I want to shop then I need like one million. I do not have that amount of money, and that is why most people are turning into street vendors to sell whatever," said Zeina Hawa, a local resident.

      Entering the first Ramadan since the fall of the Assad government, residents are facing strict measures from the new administration, which has ordered the closure of all restaurants and cafes during daylight hours. Violators risk up to three months in custody, leaving the catering industry in a state of stagnation.

      After inheriting an economy ravaged by years of conflict and sanctions, the new government is struggling to identify a short-term strategy to revive the country's financial stability.

      "Unfortunately, Syria now has no economic approach. It is not a socialist economy, or a social market economy, nor a capitalist economic system. So, the market approach of the Syrian economy is rather vague," said economist Ammar Yousef.

      As Syrians remember the 14th anniversary of the war, nonfunctional economic management and unrest in many spots across the country have cast doubt on the country's future.

      Economic woes persist in Syria as new government faces mounting challenges

      Economic woes persist in Syria as new government faces mounting challenges

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      US military hits civil steel plant in Hodeidah, Yemen

      2025-03-19 10:16 Last Updated At:10:37

      The United States military hit a civil factory in Yemen's Hodeidah city amid its fresh round of airstrikes on the Houthi-held Red Sea port city on Monday night.

      The privately-owned iron and steel plant, located in the Salif district north of Hodeidah city, was targeted by 12 U.S. missiles.

      Footage recorded by a China Media Group (CMG) correspondent showed that the roof of the factory completely collapsed after the airstrike, and broken bricks and tiles, as well as shrapnel from artillery shells, could be seen everywhere.

      The factory had to stop production due to the damage to the equipment.

      "The attack on this plant will leave 250 to 300 workers unemployed, with material losses estimated between 13 million to 14 million U.S. dollars," said Saleh Atifa, Houthi-appointed head of Hodeidah's industrial department.

      The U.S. military claimed that they were targeting military facilities, but the steel plant was completely an independent civilian plant, according to the Houthis.

      "The brutal hostility of the U.S. military targets civilian facilities and other key facilities. Like the steel plant you see here, it belongs neither to the state nor to the military, nor to the security department or the Houthis. It is an independent civilian factory," said Hodeidah governor Abdullah Atifi.

      Over the past two days, dozens of Houthi-controlled military sites, as well as dozens of residential houses, have been targeted and bombed by U.S. fighter jets across the Yemeni capital city of Sanaa, and several other northern and western provinces under Houthi control.

      The tensions in the Red Sea are a visible manifestation of the spillover effects of the latest round of Palestinian-Israeli conflict centered on the Gaza Strip.

      The renewed conflict in the Red Sea comes after Israel halted the entry of goods and supplies into Gaza Strip on March 2, coinciding with the end of the first phase of the ceasefire agreement.

      On Tuesday, the Houthi group announced that it would resume launching attacks against any Israeli ship in the Red Sea, Arabian Sea, the Gulf of Aden, and the Bab al-Mandab Strait until the crossings of the Gaza Strip are reopened and aid is allowed in.

      US military hits civil steel plant in Hodeidah, Yemen

      US military hits civil steel plant in Hodeidah, Yemen

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