The protracted Syrian crisis has undermined economy and increased the prices of all items. However, the government is feverishly working to allay its people's concerns and alluding that everything is under control.

Because of the economic sanctions and the raging violence nationwide, Syria is going through a very serious shortage in some basic items; mainly diesel; a staple for Syrians in heating and in operating factories and bakeries.

Minister of Oil and Mineral Resources Said Maazy Heneidy confirmed that the diesel crisis would witness a breakthrough gradually soon and would be solved within two weeks "despite the unjust sanctions imposed on the Syrian oil sector and the continued terrorist attacks on crude oil pipelines."

The minister pointed out that the government is working around the clock to import sufficient quantity of diesel though confessing that there are still many difficulties because of the European sanctions that delay supply and raise the cost too much.

He stressed that the foreign exchange allocated to import diesel to cover the shortfall is available for 2012 and 2013.

The government also tried to assure the Syrians that the Syrian pound would not witness more erosion in its value against the US dollar by introducing new measures.

Deputy Minister of Economy and Foreign Trade Abdul Salam Ali told local media that the Central Bank of Syria has lately issued a decision allowing all licensed operating banks to deal in foreign currencies to preserve the value of the pound.

Recent financial data have revealed that 13 banks out of Syria's 14 private banks have registered a significant loss during the first three quarters of 2012.

The data showed that the total losses have been estimated at 3. 49 billion pounds (42 billion US dollars) during the third quarter, compared to 2.28 billion in the second quarters (27.46 billion dollars).