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Economy / Syria

Syria

February 2011 | Risk Summary

Syrian President Bashar al-Assad enacted two decrees that reduce taxes and customs fees on a number of food products following statements that the government would work to decrease the cost of food items. Products such as tea, rice, and coffee, which are mostly imported into the country, will have tariffs reductions of between two and ten percent. Consumption taxes on other products will be reduced as well. Media sources report the Central Bank of Syria as stating that food price inflation reached 11% at the end of 2010.

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