A continuous decline in the dollar in Syria… and new tax decisions to reduce the burdens on taxpayers

The exchange rate of the US dollar against the Syrian pound on the black market recorded a noticeable decline. In Damascus and Aleppo, the price reached 11,000 liras to buy and 11,300 liras to sell, while in Idlib, it recorded 10,900 liras to buy and 11,100 liras to sell. As for Al-Hasakah, it decreased to 11,000 liras for purchase and 11,200 liras for sale.

As for the euro, it recorded 11,359 liras on the black market for purchase and 11,674 liras for sale, while the value of the Turkish lira reached 309 liras for purchase and 319 liras for sale.

On the other hand, the Central Bank of Syria announced that it reduced the dollar exchange rate in banks to 13,000 liras for purchase and 13,130 liras for sale, making the average price 13,065 liras per dollar.

Regarding other currencies, according to the Central Bank, the euro exchange rate reached 13,399.10 liras for purchase and 13,533.08 liras for sale, while the price of the Turkish lira was set at 367.53 liras for purchase and 371.20 liras for sale.

The Syrian Minister of Finance, Muhammad Abazid, stated that stopping work on the 2025 budget approved by the previous regime came as a result of the large deficit, which amounted to about 12 trillion liras ($800 million), in addition to the change in current economic data.

The minister explained that the “twelve-year budget is temporary” until appropriate economic conditions are available to prepare a general budget for the state, indicating plans for a special increase in the salaries of retirees that will be made. Reported after completing the audit of the nominal financial statements.

Abazid stressed the work on preparing new tax decisions aimed at reducing the financial burdens on taxpayers, especially with regard to the real profits tax and lump sum income, saying: “We will witness a tangible improvement in the tax system during the coming period compared to what was in effect in the previous system.”

The minister added that there is coordination between the Ministries of Finance and Justice to create a competent body to look into cases of real and real estate rights that were confiscated pursuant to rulings issued by the terrorism and state security courts of the former regime, stressing that citizens will be able to regain their rights based on the decisions of this body.

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