Syria says economy is stable
The Syrian Minister of Finance Dr. Mohammad Al Aljalilati said that the Syrian economy is strong and healthy and that the reserves of funds can cover the needs of imports for more than two years.
According to him, the government boasts at least US$ 18 billion of foreign exchange reserves. He added that the Syrian government relies on its own resources in the field of food security.
Aljalilati conveyed that the deposits in Syrian banks has increased in recent days by about 30 percent compared to the withdrawals due to a number of measures taken by the Government, and notably higher interest rates on deposits in Syrian currency and the allowance for Syrian citizens to buy foreign exchange in return of Syrian pounds.
He said the Damascus Stock Exchange, which began trading with a limited number of companies, is expanding.
The Syrian minister pointed out that the economic crises, global or regional always affect securities markets. Regarding the prices decline in recent times within the market, he said it was a result of a number of factors, most notably the modification of the banks capital.