Key Highlights:

• Subsidized diesel was distributed to families for residential and agricultural purposes and this resulted in the relative decrease in the price of diesel in the informal market (13 percent m-o-m). This follows a severe shortage that had occurred in the previous months.
• The Ministry of Internal Trade announced that it will not define or set the selling prices of food items for retailers. This shift in position may have implications on the agricultural sector and consumers, particularly regarding the pricing and affordability of agri-food items.
• The Central bank of Syria announced a new official exchange rate at 4 522 SYP/USD by the beginning of January 2023. This increase represents a 50 percent depreciation of the domestic currency compared to the last adjustment made last September 2022. In contrast, the average parallel market rate appears to have stabilized compared to December 2022,  since it registered a 3 percent m-o-m depreciation dropping to 6 799 SYP/USD.