Syrians Face Financial Burden as Electricity Prices Surge
Recent hike in electricity tariffs compounds Syrians' economic struggles amid ongoing recovery efforts.
In Damascus, blacksmith Ghassan Aama is grappling with the recent decision to significantly increase electricity prices.
This move has sent shockwaves through Syria, a country still recovering from decades of sanctions and 14 years of civil war.
The energy ministry's decision to raise tariffs by at least 60 times has left many questioning their financial viability.
Aama, who already relies on a private generator for his workshop due to widespread power cuts, is among those concerned about the rising costs.
He explains that after enduring the devastation of war, Syrians had hoped for economic improvement, not further hardship.
The decision comes amid efforts by the new Islamist authorities to liberalize Syria's economy and attract investments for reconstruction, estimated by the World Bank to require over $216 billion.
The electricity price hike is part of this broader economic reform policy aimed at cutting costs and removing subsidies, according to Jihad Yazigi, editor of economic publication The Syria Report.
This move indicates a shift towards further liberalization in an economy that was already relatively open, he notes.
However, many Syrians are struggling to accept these changes, particularly as they face the brunt of the country's economic challenges.
Real estate agent Muhieddine Salam is concerned about how he will manage with increased electricity costs alongside high rent prices.
Others, like vendor Alaa Mussa, express frustration and doubt the ability of individuals to pay such bills, especially considering the lack of employment opportunities and the closure of many factories.
Despite major investment agreements announced by Syria for infrastructure rebuilding and energy supply projects, these initiatives have not yet significantly impacted daily life in the country.
With poverty affecting nine out of ten citizens and unemployment rate at 25%, as reported by the United Nations, Syrians like Umm Al-Zein, a street vendor, find it challenging to afford basic necessities such as education and electricity.
The increase in electricity prices exacerbates these hardships, leaving many to anticipate difficult winters without adequate access to power or water.
The situation highlights the complex challenges facing Syria's post-war recovery efforts, emphasizing the need for economic policies that address the immediate financial struggles of its citizens.
This move has sent shockwaves through Syria, a country still recovering from decades of sanctions and 14 years of civil war.
The energy ministry's decision to raise tariffs by at least 60 times has left many questioning their financial viability.
Aama, who already relies on a private generator for his workshop due to widespread power cuts, is among those concerned about the rising costs.
He explains that after enduring the devastation of war, Syrians had hoped for economic improvement, not further hardship.
The decision comes amid efforts by the new Islamist authorities to liberalize Syria's economy and attract investments for reconstruction, estimated by the World Bank to require over $216 billion.
The electricity price hike is part of this broader economic reform policy aimed at cutting costs and removing subsidies, according to Jihad Yazigi, editor of economic publication The Syria Report.
This move indicates a shift towards further liberalization in an economy that was already relatively open, he notes.
However, many Syrians are struggling to accept these changes, particularly as they face the brunt of the country's economic challenges.
Real estate agent Muhieddine Salam is concerned about how he will manage with increased electricity costs alongside high rent prices.
Others, like vendor Alaa Mussa, express frustration and doubt the ability of individuals to pay such bills, especially considering the lack of employment opportunities and the closure of many factories.
Despite major investment agreements announced by Syria for infrastructure rebuilding and energy supply projects, these initiatives have not yet significantly impacted daily life in the country.
With poverty affecting nine out of ten citizens and unemployment rate at 25%, as reported by the United Nations, Syrians like Umm Al-Zein, a street vendor, find it challenging to afford basic necessities such as education and electricity.
The increase in electricity prices exacerbates these hardships, leaving many to anticipate difficult winters without adequate access to power or water.
The situation highlights the complex challenges facing Syria's post-war recovery efforts, emphasizing the need for economic policies that address the immediate financial struggles of its citizens.