Russia's invasion of Ukraine prompts Syria to cut spending
DAMASCUS, Syria (AP) — The government of economically-battered Syria decided Thursday to cut spending in an effort to reduce the impact of Russia's invasion of Ukraine, concerned that oil and wheat prices could sharply increase, the state-owned news agency said.
SANA reported that after an extraordinary Cabinet meeting, officials decided to manage reserves of main staples such as wheat, sugar, cooking oil and rice for the next two months, closely watch the distribution of the commodities and ration them.
Syria’s economic minister, Mohammed Samer Khalil, said Crimea offered to export wheat to Syria. He said the Syrian government is considering the offer. SANA said the government also decided to closely monitor the exchange rate and to “ration public spending in a way that only covers priorities during this period.”
Syria, struggling after more than a decade of war, relies mostly on wheat imports from Russia and oil shipments from its other ally, Iran. As Russia pounded Ukraine Thursday, Syrian authorities saw danger signs in rising oil prices on both sides of the Atlantic and wholesale prices jumped for heating oil, wheat and other commodities.
https://www.msn.com/en-us/news/world/russia-s-invasion-of-ukraine-prompts-syria-to-cut-spending/ar-AAUgfj0
