Syria to curb spending as Ukraine crisis lift commodity prices: State news agency
Syria’s government will restrict public spending to “priority” sectors in order to contain the impact of rising commodity prices resulting from the crisis in Ukraine, state news agency SANA reported on Thursday, citing a cabinet statement.
Russian forces on Thursday fired missiles at several cities in Ukraine and landed troops on its coast after President Vladimir Putin authorized what he called a special military operation in the east.
Russia’s move against Ukraine drew international condemnations as well as threats of more sanctions.
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Syria is grappling with an economic crisis compounded by Western sanctions, the COVID-19 pandemic and a sharp fall in the value of the Syrian pound.
On Wednesday, the UN’s humanitarian agency OCHA said at least 14.6 million people in Syria are in need of humanitarian aid, up from 13.4 million last year.
OCHA added that over three quarters of households, 76 percent, are unable to meet their most basic needs, an increase of 10 percent from last year.
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