Economist: Markets will face a recession during Eid due to weak purchasing power

Economist: Markets will face a recession during Eid due to weak purchasing powerlink to My FX Buddies BlogEconomic expert Salah Nouri predicted that market activity would be limited as Eid al-Fitr approaches, explaining that this is linked to the scale of citizen demand, which directly depends on purchasing power.Nouri explained in an interview with Al Furat News Agency that "most citizens are low-income, low-level employees, and covered by social welfare, which affects the level of spending in the markets." He also predicted that "the dollar exchange rate will decline on the parallel market in the coming period, due to low demand for purchases."