The North and East of Syria's regions are experiencing an economic crisis, and have recently witnessed a sharp collapse in the exchange rate of the Syrian pound against the dollar, and to mitigate the consequences of the sharp fall in the price of the Syrian pound , the joint presidency of the Executive Council of the Autonomous Administration of the North and East of Syria held on January 20 an extensive meeting with offices, committees and economic bodies of the Autonomous Administration to discuss ways of addressing the economic crisis.
The meeting of the Autonomous Administration of the North and East of Syria which was held on January 20 resulted in several decisions, such as supporting the basic items; bread, fuel, electricity and daily products such as rice, sugar, tea, oil, baby milk, cement, iron as well, in addition to activating system of ration control practically, and establishing a mini committee of economists.
Residents of Qamishlo canton viewed the steps of the Autonomous Administration as positive. They hope to provide more support to citizens.
The Co-Head of the Executive Council of the Democratic Autonomous Administration of Al Jazeera region, Talat Younis, linked the economic crisis to the collapse of the Syrian pound against the U.S. dollar, in addition to the collapse of industrial and economic infrastructure in Syria such as Aleppo city during the past years.
"The Autonomous Administration has met with economic and financial specialists who have come together to contain the crisis to prevent regions of north and east of Syria from being affected by the economic crisis that has negatively affected the living reality of the Syrian citizens throughout Syria," Younis said.
Younis noted that the Autonomous Administration supports from the beginning the basic items such as bread, fuel and electricity. He explained that according to the outputs of the Administration meeting, basic items such as rice, sugar, tea, oil and infant formula will be provided to citizens at low prices without interest.
Younis stressed that Autonomous Administration will tighten ration control to prevent monopoly within markets, as well as on crossings, especially by large traders. He also noted that the administration may issue new decisions regarding ration control.
As for the formation of a mini-committee of economists, Younis pointed out that the mini-committee was established by economic specialists and administrators. It is assigned to take urgent measures to address the economic crisis, in addition to put forward proposals for the Autonomous Administration to get out of the economic crisis, and develop a comprehensive study of the economic situation. The Autonomous Administration would take steps to advance the economic realities. He also made clear that the committee would begin to work in the next few days.
Talat Younis, the Co-Head of the Executive Council of the Democratic Autonomous Administration of Al Jazeera region, confirmed their efforts to develop the economy of the community and support the agriculture and industry sectors within the region to achieve self-sufficiency.