The Council of Ministers in Syria has announced a new subsidy restructuring plan, shifting towards cash support and urging beneficiaries to open bank accounts for these transfers. Led by Hussein Arnous, the Council emphasized the need for account openings within three months for smooth subsidy transfers. This move is part of a gradual and thoughtful subsidy restructuring effort to ensure fair distribution to deserving recipients and support vulnerable groups. Banks in Syria have been instructed to simplify procedures and provide necessary assistance for beneficiaries opening accounts.
Economists predict that current subsidies on essentials like bread, gas, and electricity may be phased out within the three-month period. This restructuring comes after previous errors in subsidy mechanisms excluded many Syrians from receiving government support, leading to confusion and contradictions in official statements. Poor families were left to purchase essential goods at market rates, significantly higher than subsidized prices.
New decisions on subsidy restructuring:
The Syrian government’s new approach to subsidies aims to improve distribution efficiency and address budget deficits, while also providing better support to those in need.