Syria is facing a critical economic crisis, with over 80% of the population living in poverty and struggling with food insecurity. Economists and researchers are urging Bashar al-Assad’s government to prioritize improving living standards in its upcoming ministerial statement.
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The housing crisis is worsening due to skyrocketing real estate prices and the destruction of homes. As more Syrians return from conflicts in Lebanon, affordable housing and reconstruction become essential, with homeownership costing 60-70 times the average income.
Economist Imad al-Din al-Musbah emphasizes that Syria’s economic collapse requires more than just government changes. Limited by foreign debt, the regime faces a budget deficit and declining resources, leading to the mortgage and sale of assets to cover expenses.
The Syrian Workers’ Union is calling for economic reforms, focusing on improving living standards, curbing monopolies, increasing wages, and stimulating domestic production. Regional conflicts, like those in Syria, also impact government priorities and require contingency plans for expanded warfare.
Despite challenges, it is crucial for the government to implement clear plans to raise wages as living costs continue to rise sharply, creating immense financial strain for Syrian families.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.