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.
Iranian Foreign Ministry Spokesperson Esmaeil Baghaei has said Tehran is not currently involved in direct talks with Washington about reopening the St...
Myanmar's detained former leader Aung San Suu Kyi met with a representative of the International Committee of the Red Cross on Monday, after years of ...
Indonesian rescue teams are searching for 28 people still unaccounted for, three days after a passenger ferry caught fire off the coast of Madura isla...
A tourist aircraft crashed near Peru's UNESCO-listed Nazca Lines on Saturday (1 August), killing all 13 people on board, authorities said.
U.S. President Donald Trump said late on Saturday he would hold off on a fresh attack on Iran as long as a deal could be reached quickly to halt Iran's nuclear ambitions and reopen the Strait of Hormuz.
Iranian Foreign Ministry Spokesperson Esmaeil Baghaei has said Tehran is not currently involved in direct talks with Washington about reopening the Strait of Hormuz. U.S. President Donald Trump said negotiations with Iran were to begin on Monday.
Two firefighting helicopters collided while battling a major wildfire in Greece on Sunday, killing two crew members as emergency services continued efforts to contain fires fuelled by extreme heat and dry conditions across Europe.
French Prime Minister Sebastien Lecornu said wildfires that swept across France were now under control. Authorities warned that risks remained as Greece and Spain continued battling active blazes across parts of Europe.
Armenian President Vahagn Khachaturyan has appointed Nikol Pashinyan as prime minister on Sunday by decree after the previous government resigned following the first session of the newly elected National Assembly.
The United Nations has warned that Afghanistan’s worsening humanitarian and economic crises are leaving more people vulnerable to human trafficking, with returnees, women, children and indebted families facing the greatest risks.
Apple Pay has launched in Kyrgyzstan and Tajikistan, expanding digital payment services across Central Asia and supporting the region's shift towards cashless transactions.
UNESCO has granted World Heritage status to 10 landmarks of Tashkent's modernist architecture, recognising the buildings that helped redefine Uzbekistan's capital after the devastating 1966 earthquake.
Israeli airstrikes continued in Gaza for a second straight day on Sunday, killing at least four Palestinians, despite U.S. President Donald Trump announcing a breakthrough in efforts to implement last year's Gaza ceasefire agreement.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment