Roundup: Syrian products become popular in Lebanon amid economic deterioration

Source: Xinhua| 2020-02-09 22:50:07|Editor: yan
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BEIRUT, Feb. 9 (Xinhua) -- A big chunk of the Lebanese people have been lately resorting to buying Syrian products in a bid to save their supermarket bills amid economic deterioration.

"I have substituted much of my purchases with Syrian products because I cannot afford buying Europe-imported items anymore," Ahlam, a sales representative in a computer shop, told Xinhua.

"How can I afford to buy luxurious products with my salary being cut in half and prices having rised by more than 40 percent in some cases?" She asked.

Lebanon has been witnessing a severe economic crisis which caused a lot of companies to slash the salaries of their employees or to lay off a big number of workers to maintain their operations.

Most citizens are currently trying to adapt to Syrian products which are cheaper since the cost of production in Syria is lower than in Lebanon and other countries.

Nabil Fahd, head of the supermarket owners' association, said that people are focusing today on products at lower prices no matter where they come from.

Fahd noted that Syrian products are mostly found in small grocery shops and demand on these products has been increasing lately because people's purchasing power has shrunk.

Fahd also explained that Syrian products today have an advantage to be exported everywhere since the Syrian pound has depreciated vis a vis the U.S. dollar.

Unfortunately, the Lebanese pound has also depreciated versus the U.S. dollar due to a shortage in the foreign currency in the country which caused a rise in demand on the dollar.

"I am still paid the same salary in Lebanese pounds but its value has dropped tremendously ever since the price of U.S. dollar rose in the Lebanese market," said Amjad, who works at a bakery shop in Beirut.

Amjad said he goes to Dahie, Beirut Southern Suburbs, where he can buy Syrian made products at a remarkably cheaper price than either local products or European ones.

Meanwhile, Adnan Rammal, representative of the trade sector in the Economic and Social Council, said the depreciation in the value of the Lebanese pound versus the U.S. dollar is not the only reason behind the hike in prices of imported products.

Rammal, who is also owner of Rammal Group, a chain of supermarkets and electronics shops, said that people's focus on Syrian products is justified, adding that some of these products enter the country illegally which makes them cheaper since they are not subject to taxes.

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