Reporting by Abdul Salam Haj Bakri; Translation by Rana Abdul
(Zaman Al Wasl)- Prices of products remained high especially food products regardless of the improved value of the Syrian Pound in front of the American Dollar causing general resentment in pro-regime areas.
The SP recovered 20% of its value lost during the last month; however, the prices did not recover. The pro-Assad street was provoked by the increase of telephone calls and internet prices by the two companies Syria Tel and MTN to reach 60%.
One American dollar came up to 450 SP in most Syrian cities after it exceeded 625 SP during the last two weeks as the gram of gold fell from 24 thousand SP to 18 thousand SP due to the central bank intervention and its pumping of large of quantity of American dollars.
-Traders are al-Assad’s Isis-
Food products recorded an increase in price in conjunction with the fall in the value of the lira to reach 50% for some of them, but it did not decrease with the retreat in the value of the US dollar and the rise in the Syrian Pound currency exchange rate.
Pro-regime pages accused al-Assad’s traders that they are “Isis ravaging the meat of the poor” where the page Jableh News Network said the traders are monopolizing the food products and are not pumping a large amount in the markets so that the price will not go down and thus they make double the profits from buying it cheap and selling it with high prices benefiting from buying it when the value of the SP is low and selling it when the exchange rate improved.
The Coastal News Network page indicated that it is no longer able to understand what is happening as the value of the SP improves the price of sugar and meats also increase and wondered, “who can understand this and explain it?”
-Political Decision-
The economic expert Mustafa al-Ahmad answered the question indicating that the value of the SP against the US Dollar did not change, but the retreat in its currency exchange rate in the markets is a political and economic decision.
He indicated that the price of products in the Syrian market does not adhere to the principle of supply and demand but to the hegemony of merchants and decision makers.
Al-Ahmad confirmed that the al-Assad regime is continuously rising the prices and it has not in the past decreased them, “it is a message it is directing to its supports with the aim of pressuring employees and students and others of the men to join the army where the salaries are higher and there is the possibility of stealing, without leaving them the possibility of choosing, providing the daily needs of their families will force them to accept” according to al-Ahmad.
-An indicator after the criticism-
The regime media outlets demanded from the supply directorates and the inspection authorities to hold merchants accountable, merchants which the Beit Yahsout News Network described as blood sucking vampires.
Simultaneously, with the anger of pro-regime supporters with the continued increase in the prices, most of the no one of the regime’s media outlets missed the chance of highlighting the good management of Abib Mayala of the Central Bank, and he ability to reduce the value of the US dollar against the SP, and it is them who were criticizing him days and describing him as helpless and demanding his resignation and trial.
It is worth noting that the value of a US dollar was equal to 50 SP five years before, and the value of the Syrian Pound retreated with the war that the regime has launched against its people for it to lose 90% of its buying value, causing an increase in Syrians’ poverty and their inability to meet their daily needs.
(Zaman Al Wasl)- Prices of products remained high especially food products regardless of the improved value of the Syrian Pound in front of the American Dollar causing general resentment in pro-regime areas.
The SP recovered 20% of its value lost during the last month; however, the prices did not recover. The pro-Assad street was provoked by the increase of telephone calls and internet prices by the two companies Syria Tel and MTN to reach 60%.
One American dollar came up to 450 SP in most Syrian cities after it exceeded 625 SP during the last two weeks as the gram of gold fell from 24 thousand SP to 18 thousand SP due to the central bank intervention and its pumping of large of quantity of American dollars.
-Traders are al-Assad’s Isis-
Food products recorded an increase in price in conjunction with the fall in the value of the lira to reach 50% for some of them, but it did not decrease with the retreat in the value of the US dollar and the rise in the Syrian Pound currency exchange rate.
Pro-regime pages accused al-Assad’s traders that they are “Isis ravaging the meat of the poor” where the page Jableh News Network said the traders are monopolizing the food products and are not pumping a large amount in the markets so that the price will not go down and thus they make double the profits from buying it cheap and selling it with high prices benefiting from buying it when the value of the SP is low and selling it when the exchange rate improved.
The Coastal News Network page indicated that it is no longer able to understand what is happening as the value of the SP improves the price of sugar and meats also increase and wondered, “who can understand this and explain it?”
-Political Decision-
The economic expert Mustafa al-Ahmad answered the question indicating that the value of the SP against the US Dollar did not change, but the retreat in its currency exchange rate in the markets is a political and economic decision.
He indicated that the price of products in the Syrian market does not adhere to the principle of supply and demand but to the hegemony of merchants and decision makers.
Al-Ahmad confirmed that the al-Assad regime is continuously rising the prices and it has not in the past decreased them, “it is a message it is directing to its supports with the aim of pressuring employees and students and others of the men to join the army where the salaries are higher and there is the possibility of stealing, without leaving them the possibility of choosing, providing the daily needs of their families will force them to accept” according to al-Ahmad.
-An indicator after the criticism-
The regime media outlets demanded from the supply directorates and the inspection authorities to hold merchants accountable, merchants which the Beit Yahsout News Network described as blood sucking vampires.
Simultaneously, with the anger of pro-regime supporters with the continued increase in the prices, most of the no one of the regime’s media outlets missed the chance of highlighting the good management of Abib Mayala of the Central Bank, and he ability to reduce the value of the US dollar against the SP, and it is them who were criticizing him days and describing him as helpless and demanding his resignation and trial.
It is worth noting that the value of a US dollar was equal to 50 SP five years before, and the value of the Syrian Pound retreated with the war that the regime has launched against its people for it to lose 90% of its buying value, causing an increase in Syrians’ poverty and their inability to meet their daily needs.
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