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Syria: Economic woes persist in Syria as new government faces mounting challenges

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Syrians remain burdened by economic instability and security challenges following the ousting of Assad's government and the establishment of a new administration in December last year. Saturday marks 14 years since the outbreak of the Syrian civil war. Even with a new government established in December, Syrians continue to grapple with deep economic challenges, including unemployment and soaring inflation. Amid a worsening economic crisis and soaring unemployment, the new government has struggled to revive the economy, leaving vulnerable groups, particularly the elderly, in extreme poverty. To mitigate the crisis, the government has introduced bank withdrawal limits, but the policy has only added to residents' woes. In a country with limited alternative payment options, people are forced to spend hours in line just to secure enough cash for their daily needs. "I have not been paid for four months. Recently the government issued a decision to give us our payments, so I came here today. It is too difficult for a retiree to live four months without any income," said Adham Malek, a Syrian Retiree. Many Syrians have resorted to purchasing large quantities of bread during Ramadan and reselling it on roadsides to earn a modest daily income, as job opportunities remain scarce. "The economic situation in Syria is bad. Items are abundant, but there is no purchasing power and no money, so how can I buy things? If I want to shop then I need like one million. I do not have that amount of money, and that is why most people are turning into street vendors to sell whatever," said Zeina Hawa, a local resident. Entering the first Ramadan since the fall of the Assad government, residents are facing strict measures from the new administration, which has ordered the closure of all restaurants and cafes during daylight hours. Violators risk up to three months in custody, leaving the catering industry in a state of stagnation. After inheriting an economy ravaged by years of conflict and sanctions, the new government is struggling to identify a short-term strategy to revive the country's financial stability. "Unfortunately, Syria now has no economic approach. It is not a socialist economy, or a social market economy, nor a capitalist economic system. So, the market approach of the Syrian economy is rather vague," said economist Ammar Yousef. As Syrians remember the 14th anniversary of the war, nonfunctional economic management and unrest in many spots across the country have cast doubt on the country's future. SHOTLIST: Damascus, Syria - Recent 1. Various of city view, traffic; 2. Various of residents lining up to withdraw cash from ATMs; 3. SOUNDBITE (Arabic) Adham Malek, Syrian Retiree (partially overlaid with shot 4): "I have not been paid for four months. Recently the government issued a decision to give us our payments, so I came here today. It is too difficult for a retiree to live four months without any income."; [SHOT OVERLAYING SOUNDBITE] 4. Residents lining up to withdraw cash from ATMs; [SHOT OVERLAYING SOUNDBITE] 5. Various of shops closed; 6. Various of residents lined up to buy bread during Ramadan; 7. SOUNDBITE (Arabic) Zeina Hawa, local resident (partially overlaid with shot 8): "The economic situation in Syria is bad. Items are abundant, but there is no purchasing power and no money, so how can I buy things? If I want to shop then I need like one million. I do not have that amount of money, and that is why most people are turning into street vendors to sell whatever."; [SHOT OVERLAYING SOUNDBITE] 8. Zeina Hawa, local resident, packing bread; [SHOT OVERLAYING SOUNDBITE] 9. Various of residents holding bread to sell; 10. Various of Central Bank of Syria, national flag of Syria 11. SOUNDBITE (Arabic) Ammar Yousef, economist (starting with shot 10/partially overlaid with shot 12): "Unfortunately, Syria now has no economic approach. It is not a socialist economy, or a social market economy, nor a capitalist economic system. So, the market approach of the Syrian economy is rather vague."; [SHOT OVERLAYING SOUNDBITE] 12. Facade of Commercial Bank of Syria; [SHOT OVERLAYING SOUNDBITE] 13. Various of residents lining up to withdraw cash from ATMs; 14. Various of traffic, pedestrians. [Restrictions: No Access Chinese Mainland/Orient TV/Syria Alshaab TV/Zanoubia TV/Alhurra TV/ANN TV/Al Jazeera/ Al-Arabiya TV]

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