Syria is initiating economic reformation by reopening its economic markets, which have been through complete Paralysis for the past six months- considering it as the longest shutdown ever since the over-decade war and sanctions.
Syria is reopening its economic markets after a six month shut down of the whole country’s economy- being it the longest economic pause the country has endured though the long-lasting war and imposed sanctions. Syria’s stock exchange was resumed, and the opening bell was rung by officials signaling the restart of trading for 14 of the 28 listed companies.
Syrian Finance Minister Yisr Barnieh described the upcoming phase as a prosperity period for the Syrian economy. He affirmed there will be an overall revision of laws, new techniques implementations, and greater transparency.
According to the Syrian president Ahmed Al Sharaa, the economic reforms are expected to follow a political transformation. Having a newly established transitional government is shifting away from decades of rigid state centralized control to smoothen the road for modernized financial institutions and to encourage private-sector investments.
As for Last month, U.S. President Donald Trump met with Syria’s new leader, Ahmed al Sharaa, a significantly influential meeting that led to the reduction of key sanctions. The talks are understood to signify approval for Syria’s re-entry into global markets and the restoration of diplomatic ties.
Additionally, The European Union has lifted economic sanctions on Syria in an effort to help the war-torn country’s recovery process.
The Deputy Manager of Damascus Securities Exchange, Suleiman Mousselli, stated;
"We hope to benefit from the lifting of sanctions… We hope to be able to have better access to advanced technology and to introduce it to our trading system. This will enhance both our trading operations and market monitoring.”
In light of the event, while only half of Syria’s companies are back on board, officials say it’s a crucial step toward building a market-driven, post-conflict economy.
As for now, Syria’s recovery remains fragile, with its future heavily reliant on governance, investor trust, and lasting peace.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 8th of February, covering the latest developments you need to know.
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