Syria’s currency has come under intense pressure in recent weeks as rebels have taken their battle closer to the centre of the capital and international powers have begun talking about military intervention in the country’s escalating civil war. The value of the Syrian pound has dropped by more than 15 per cent on the black […]
Will Syria’s weakening economy hasten Assad’s demise?
BEIRUT, Lebanon — The Syrian economy is buckling under the pressure of sanctions by the West and a continuing popular uprising, posing a growing challenge to President Bashar al-Assad’s government as the pain is felt deeply by nearly every layer of Syrian society.
Continuing protests are intensifying pressure on the Syrian economy, as new figures show nearly 10 per cent of deposits in the country’s banking system were withdrawn during the first four months of 2011.