Syrian Arab News Agency S A N A
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Damascus, SANA – Prime Minister Wael al-Halaqi announced that important decisions were made by the government that would positively affect the currency exchange rates.
He was speaking during a Cabinet meeting on Tuesday, in which urgent economic issues were discussed, on top being the efforts to stabilize the exchange rate of the Syrian pound (SYP), whose price has suffered a sharp fall against the USD over the past months.
Al-Halaqi said the government will continue keeping a close watch on the currency exchange market and hunting down manipulators, along the line of implementing the new decisions aimed at stabilizing the exchange rate.
He highlighted the need to allow more room for institutions which play a positive interventional role in the markets.
The Cabinet approved a draft law giving private banks one extra year, in addition to the three-year period issued in 2010, to settle their situation by raising their capital to the minimum limit required.
It also passed a request made by the Ministry of Agriculture and Agrarian Reform for ratifying the 2015 budget of the fund for mitigating the impacts of drought and natural disasters.
Haifa Said
