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Economic woes persist in Syria as new government faces mounting challenges

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      China

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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

      Israel has vowed to continue with its airstrikes on Gaza, after a fresh wave of bombardment led to the collapse of a two-month ceasefire early Tuesday, with its officials saying that the attacks will not stop until it secures the release of all remaining hostages from Hamas captivity.

      On Tuesday, the Israeli army conducted intense airstrikes on northern and central Gaza Strip, marking the most violent escalation since a ceasefire agreement took effect on Jan. 19.

      According to Israeli media reports, Israeli Defense Minister Israel Katz said in a statement following Tuesday's airstrikes that if Hamas does not release all hostages, "the gates of hell will open in Gaza," and Hamas will encounter the Israeli military "with an intensity they have never known before."

      Meanwhile, Danny Danon, Israel's permanent representative to the United Nations (UN), also said in a post on his social media account that Israel will show "no mercy" until all hostages are returned.

      Israeli Prime Minister Benjamin Netanyahu's office announced early Tuesday that Netanyahu and Katz had ordered the military to "operate against Hamas with increasingly powerful military force."

      According to the statement, the move followed what it described as Hamas's "repeated refusal to release hostages" and rejection of proposals presented by U.S. envoy Steve Witkoff and other mediators.

      In a press statement issued on Tuesday, Hamas accused Netanyahu and Israeli government of "resuming aggression and a war of genocide" against civilians in the Gaza Strip, holding Israel fully responsible for the repercussions of the renewed escalation.

      Hamas accused Netanyahu's government of deliberately overturning the ceasefire agreement, thereby exposing prisoners in Gaza to an uncertain fate.

      Hamas further appealed to the United Nations and the UN Security Council to "convene urgently to adopt a resolution obligating Israel to immediately halt its aggression and implement Resolution 2735, which calls for an end to hostilities and a full withdrawal from the Gaza Strip."

      Israel says Gaza strikes won't stop until release of all hostages; Hamas decries "war of genocide"

      Israel says Gaza strikes won't stop until release of all hostages; Hamas decries "war of genocide"

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