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Syrian economy in the face of local and global challenges in the midst of global decline in oil prices

Syrian economy is facing great challenges in the global decline in oil prices, which is an essential resource of the State budget.




Effects of falling oil prices did not appear on local markets at a time after the effects of the crisis threatening the sectors of agricultural and industrial exports.

Linked Economists Analysts maintain the prices of petroleum products at present levels to see the government deal with those derivatives and email with the title “energy carriers.”

They said that government support materials and diesel fuel, but currently does not demand to reduce the price of gasoline, although the price is than double that worldwide.

They added that some provisions are specifically vegetable oil and rice prices dropped in the Syrian market, but decline is very limited.

The increased cost of production
The prices of oil derivatives to the severe effects on production costs, which increased significantly.
The economic analysts said that production costs are very high, especially with the surge in oil bill and electric power producer which led to additional burdens it is not competitive and it warned of the pitfalls in the Syrian economy with the continued decline in oil prices.
They pointed to the preparation of the state’s public budget on the basis of 51 dollars per barrel of oil, pointing out that the budget has to lose four billion pounds with the lack of every dollar a barrel.

They said that this makes the government is able to reduce the price of petroleum products at present.
The volume of the state budget 685 billion Syrian pounds (14.5 billion dollars) deficit of 266 billion Syrian pounds (5.6 billion dollars). The plan of government control of public expenditure management and in particular it.


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