Damascus, Dec. 30 (SANA) Syria’s Information Minister Hamza al-Mustafa said the launch of the new Syrian currency marks a pivotal step in managing the banking sector and monetary affairs, while noting that the move is also accompanied by many questions and expectations.
In an editorial article published Tuesday in al-Thawra al-Souria newspaper, al-Mustafa referred to remarks by President Ahmad al-Sharaa during the official ceremony held Monday to unveil the new currency. The president, the minister said, sought to correct public perceptions about the meaning and limits of replacing the currency so it does not become a source of fear or unrealistic hopes.
Al-Mustafa wrote that the president stressed that replacing the currency “does not at all mean announcing the immediate death of the old currency,” nor does it aim to push citizens to get rid of it quickly or “at any price,” even if the old notes carry images that remind people of “a time of tyranny and its heavy pains.”
The information minister also cited remarks by Central Bank of Syria Governor Abdulkader Husrieh, who said the old Syrian pound remains valid for circulation and that the exchange process will be gradual. According to the article, the governor set a “comfortable” time margin of three months, renewable, allowing markets and citizens to adapt calmly to the new reality.
The minister said the immediate effects of the currency replacement are expected to include easier cash circulation by reducing problems linked to worn-out notes, lowering transportation and storage costs, and simplifying daily settlements in Syrian pounds. Tackling inflation, creating jobs and improving living standards, however, remain dependent on broader production, development and financial reform policies beyond any single monetary step.
The information minister described the most sensitive aspect of the transition as its impact on relations between people, including debts, contracts, rents, dowries and mutual obligations.
Al-Mustafa concluded by stressing that the launch of the new currency should not drive Syrians to squander their savings, emphasizing that the move is a technical step with national and social dimensions. He said it could become the beginning of a broader recovery path if handled wisely by the state, institutions and citizens alike, as a tool to organize the market and enhance confidence rather than create fear or sell illusions.
