Syria's recent budget approval created a firestorm of criticism, questioning the government's ability to handle the economic crisis.
The government claims it is proceeding with its decisions to reduce the deficit, which reached unprecedented levels this year.
The initial allocations for the 2024 draft general budget amounted to SYP35,500 billion, divided into SYP26,500 billion for current spending and SYP9,000 billion for investments. The total deficit amounted to SYP9,404 billion.
Syrian economic expert Amer Shahda wrote on his Facebook page that the government's monetary policy from September 2018 until 2023 led to a profound imbalance in the distribution of national income.
The policy transferred public treasury funds from the state to a small group of financiers, representing 5% of Syrians.
He described them as a highly affluent group that gained wealth through theft, corruption, and control over economic decisions approved by the government, while 95 percent of Syrians were below the poverty line.
Shahda pointed out that the budget deficit in 2011 amounted to SYP547 billion, while the deficit in 2024 will reach more than SYP9,000 billion, in light of mismanagement and poor planning.
The government seeks to alleviate the deficit through a package of decisions that lead to removing subsidies, with successive decisions to raise fuel prices already 20% higher than those of neighboring countries.
Wage increases of 100% in late 2023 were instantly nullified by a 250% price surge and a plummeting lira, bringing the exchange rate to SYP15,000 per dollar.
Furthermore, economic journalist Ziad Ghosn criticized the government's policy, which operates with the mentality of the past, relying on tactics like "gradually lifting subsidies" instead of finding alternatives and new solutions.
Ghosn wrote an article on the Sham FM website, saying that increasing public treasury revenues requires radical changes rather than easy, traditional ones that the government resorts to, such as dramatically increasing the prices of goods and related services.
He explained that finding alternative solutions is unsuitable for a group operating in an environment that does not belong to the future.
Earlier this year, Damascus hosted several meetings and events with the participation of businessmen, chambers of industry and commerce, and government representatives who engaged in open dialogues about economic policies and the need to find ways out of the growing crises.
The General Federation of Trade Unions (GFTU) in Syria held a symposium with government officials to discuss the economic situation and wages.
Average salaries range between SYP200,000 and SYP300,000, equivalent to $13-$20, and according to local media reports, a family of four needs more than SYP10 million to survive, which is about $700.
Journalist Maad Issa said the national labor market is linked to "crises and government decisions" and that every crisis creates new job opportunities regardless of the legitimacy of these opportunities.
In an article in al-Thawra newspaper, Issa explained that the electricity crisis created entire markets for equipment in which many merchants participated without oversight.
Inflation also contributed to the emergence and maintenance of the money counter trade.
The author pointed out that this transformation caused a distortion in the work environment, and every day, Syria is losing dozens of university graduates, academics, doctors, engineers, and craftsmen who chose to leave the country for better opportunities.
