300 billion Syrian pounds arrive from Russia to Damascus

The Central Bank of Syria confirmed that it received 300 billion Syrian pounds on Friday from the Russian Federation, stressing that this is the actual amount they received and that: “The figures circulating regarding the size and quantities of this money are entirely inaccurate.”

“The amount that arrived today is the right of Syria and the Syrian people, and it is part of a contract signed between the ousted regime and Russia,” noting that the amount: “Was supposed to arrive before the end of last year.” The bank also confirmed that the contract stipulates another payment that will be sent later may be larger than the one currently sent, adding that it was customary during the rule of the ousted President Bashar Al-Assad to print Syrian banknotes in Russia.

The media office of the Central Bank of Syria shared in a press statement on Thursday: “We confirm the arrival of amounts of Syrian pounds from Russia to Syria via Damascus International Airport. The figures circulating regarding the size and quantities of this money are entirely inaccurate. We stress the importance of relying on official information and avoiding falling for rumours.”

This comes as Syrian markets have been witnessing tremendous pressure on the Syrian currency since the beginning of this year, as all markets witnessed a significant decrease in the supply of the Syrian pound, which increased in value against the dollar due. The dollar exchange rate in the country was recorded between 9,000 and 10,000 Syrian pounds.

Hundreds of thousands of government employees are suffering for the second month in a row as they are not receiving their monthly salaries because the ATMs from which their salaries are withdrawn are not working due to the absence of the Syrian currency. The Syrian economy is suffering from deep crises left behind by the policy of systematic destruction pursued by the ousted Al-Assad regime, in addition to the thefts that affected the Central Bank before Al-Assad’s gang fled to Russia and some Gulf countries.

Economists believe that the pound will remain unstable until production returns and investments begin to flow into the country. This is linked to security and political stability and the formation of the government next month, in addition to lifting international sanctions and announcing a conference to rebuild Syria. They say that the available capabilities and possible revenues of the transitional government led by President Ahmed Al-Sharaa are insufficient to control the markets and move the economy forward.

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