Economic observers, via the Syrian regime's media, called on the Central Bank to print new banknotes larger than the 5,000 lira denomination to avoid the risks of carrying large amounts of money, especially for merchants.
The Vice Dean of the Faculty of Economics at Damascus University, Ibrahim Adi, believed that the new government that will be formed in the coming period must issue new banknotes starting with 50,000 or 100,000, if it wants to start an economic reform process.
Adi, who was speaking to Al-Eqtisadiah newspaper, added that before 2011, the 1000 lira denomination was the largest coin and was worth $20, and today dealing with paper currency is a big problem, especially the old worn-out 500 denomination.
He pointed out that those who make excuses about inflation, inflation exists, and with successful and practical economic measures, the new government can gain the trust of the citizens and that its economic policy, directives and decisions are directed to the poorest Syrian citizen and work to improve the poor class.
Economic expert George Khuzam had suggested issuing a new currency of the 25,000 lira denomination as a solution to the inflation problem in the country, which is pushing the population in Syria to carry large quantities of banknotes, due to the frequent decrease in its value against other currencies.
Khuzam demanded in a post on his personal Facebook page, withdrawing the entire old issue of the 500 pounds and 1000 pounds denominations, which have been in circulation for 26 years, and printing a 25,000-banknote, equal to the amount withdrawn from circulation without Increase, indicating that this will not affect the monetary inflation that the government uses as a pretext to avoid printing larger banknotes.
The expert, whose post was circulated by a number of pro-regime media outlets, explained that printing a 10,000-lira banknote is an ineffective process, because the cost of printing a banknote is about $15 US cents according to the security factors present in it, or about 2,000 poundsat a rate of 20 percent of its nominal value.
It is noteworthy that the largest banknote in the Syrian currency is the 5,000- banknote, which is equal to less than $34 US cents.
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