Price Discounts Fail to Boost Ailing Economy

Significant price cuts have failed to end economic stagnation in Syria, according to the pro-government website Syria News.



Retailers slashed prices after state officials urged them to lower their prices – which have been rising over the past two years – in order to encourage sales in the current difficult economic climate.



Consumer products were discounted by up to 70 per cent two weeks before sales were officially due to begin, reported the website.



Adnan Dakhakni, a member of parliament who works with the consumer protection association, told the website that he blamed the country’s economic woes on low wages and the reduction in oil and gas subsidies.



He said it was the government, not merchants, that ought to act.