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Series of steps
Economist George Kazam wrote:
There are rumors that employees and even some economists are asking for a pay rise.
Has the employee benefited from a negative hypothetical pay increase for all previous pay increases over the past 12 years?
Any wage increase in Syria is a huge illusion and a huge deception if it is not accompanied by an equal increase in production to absorb the excess cash liquidity circulating in Syrian pounds.
This way, a balance is maintained between the amount of Syrian pounds in cash in circulation and the amount of goods for sale.
because What is needed is to increase the purchasing power of the Syrian pound
As a result, the purchasing power of low wages increases
How to increase the purchasing power of the Syrian pound?
1__Increase production to increase supply and reduce prices
If there is no increase in internal or external demand, output will not increase
Because if there is not enough demand to equal supply, it is impossible to expand the production of goods and avoid a recession.
2__Decrease the US dollar exchange rate
This was achieved by abolishing the decision to criminalize transactions in US dollars and reducing production costs to increase exports.
and cancel the export commitment to deliver half of the export value to the central bank at the lower announced price
As a result, the amount of dollars sold on the black market has increased
3__ Lower the price
By cancelling the decision to finance imports, reducing electricity bills and taxes for industry, reducing production costs, which increased by 35% due to a drop in the number of imported goods sold, prices continue to rise. They are working extremely slowly.
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