Syria’s economy is showing clear signs of recovery, with economic activity accelerating in recent months, the International Monetary Fund (IMF) said on Wednesday.
The economic rebound is being driven by improved consumer and investor sentiment, the return of refugees, and increased electricity supply. Favourable rainfall and deeper regional integration are also contributing to growth.
Ron van Rooden, Head of the IMF mission, said that because international sanctions have been lifted, Syria is reintegrating into regional and global economic networks.
He noted that progress towards national reconciliation and improved infrastructure are supporting growth prospects for 2026 and beyond. Several large new investment projects are also contributing, although the IMF did not specify their details.
Authorities have prepared the 2026 budget with a focus on healthcare, education, infrastructure rehabilitation, and wage increases. Revenue projections are ambitious but achievable, with safeguards in place to protect social spending if financing falls short.
The IMF emphasised that strong international support remains crucial, particularly to alleviate poverty among returning refugees and internally displaced persons. Syria’s ability to mobilise external financing will depend on progress in addressing legacy debts and maintaining international cooperation.
Despite constraints, the Central Bank of Syria has maintained a tight monetary stance. Inflation slowed to low single digits by the end of 2025, while the Syrian pound appreciated compared with 2024. The IMF highlighted ongoing efforts to strengthen the central bank’s independence, implement a robust monetary policy framework, and assess the health of the banking sector to rebuild public trust.
The IMF said it will continue supporting Syria through technical assistance and capacity building in several areas:
The IMF said that these initiatives are designed to facilitate sustainable economic recovery and lay the groundwork for future IMF Article IV consultations.
“The authorities have shown transparency and constructive engagement throughout our mission,” van Rooden said, commending their collaboration.
The IMF team met with senior officials, including Minister of Finance Mohamad Yisr Barnieh and Central Bank Governor Abdulkader Husrieh, alongside other high-ranking representatives.
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claim...
Twelve people have been arrested in connection with an alleged extreme right-wing terrorism plot targeting a major Islamic gathering in Suffolk, promp...
Ukraine and a group of key Western allies have launched a new air defence coalition to develop a European anti-ballistic missile system that will comp...
The United States and Iran have significantly escalated their conflict, exchanging heavy missile and drone strikes across the Gulf region. Iran claims it has once again closed the Strait of Hormuz, a vital global shipping route.
Twelve people have been arrested in connection with an alleged extreme right-wing terrorism plot targeting a major Islamic gathering in Suffolk, prompting counter-terrorism police to declare a major incident and bring the event to an early close.
Ukraine and a group of key Western allies have launched a new air defence coalition to develop a European anti-ballistic missile system that will complement existing defences and reduce reliance on the costly U.S.-made Patriot system.
Two endangered loggerhead sea turtles have been released into the Mediterranean from Türkiye's Antalya province as part of a conservation project to track their migration and strengthen protection efforts.
The 4th Shusha Global Media Forum will bring together nearly 160 media leaders, experts and officials from 54 countries in Azerbaijan's historic city of Shusha on 13-14 July, to discuss journalism’s role in peacebuilding, restoring public trust and tackling challenges.
The U.S. has launched fresh strikes on Iran after Tehran targeted a container ship and said it had again closed the Strait of Hormuz. Iran also claimed to have expanded attacks on U.S. military facilities across the Gulf.
Typhoon Bavi, the strongest storm to hit the eastern coast of mainland China this year, brought heavy rain, strong winds, flooding and landslides after making landfall in Zhejiang province on Sunday. More than 2.8 million people were evacuated to safety ahead of the storm.
President Ilham Aliyev is holding his annual question-and-answer session with international journalists at the 4th Shusha Global Media Forum in Azerbaijan.
Qatar is mourning the death of its former ruler, Sheikh Hamad bin Khalifa Al Thani, who has passed away at the age of 74.
Türkiye delivered 30 tonnes of humanitarian aid to earthquake-hit Venezuela on Monday, reaffirming its commitment to supporting the country's reconstruction after last month's devastating earthquakes.
The United Nations Children's Fund (UNICEF) warned on Sunday that 3.7 million children under five in Afghanistan face an increased risk of malnutrition as the peak wasting season from July to September approaches.
Uzbekistan is preparing for one of its hottest weeks of the year, with electricity demand expected to approach a record as temperatures are forecast to reach 44-46°C across parts of the country. Authorities are taking measures to maintain power supplies during the extreme heat.
Iran has said it remains determined to pursue legal action against Israel and the United States over the deaths of senior officials and civilians during recent military confrontations, insisting it will seek accountability through international bodies.
Pakistan on Sunday expressed "deep concern" over the latest escalation in the Middle East following renewed military exchanges between the U.S. and Iran. It urged all sides to exercise restraint and honour commitments made under the Islamabad Memorandum of Understanding (MoU).
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment