Syria’s Economy Encounters Uncertain Revival
(MENAFN) Following over a decade of conflict and global isolation, Syria’s economic landscape is entering a fresh and unpredictable stage. Entire industries were devastated by prolonged warfare, leaving the nation’s infrastructure, currency, and labor force severely weakened.
With Bashar al-Assad no longer in power and sanctions being relaxed, regional partners and international investors are renewing their interest.
Numerous investment agreements valued at billions have been signed in sectors such as energy, ports, and manufacturing — sparking optimism for recovery, but also raising concerns about whether these initiatives will foster inclusive growth or exacerbate existing disparities.
The magnitude of destruction makes the stakes extremely high.
The Baath party’s 61-year dominance resulted in fragile infrastructure, stagnated progress, and widespread corruption.
In 2011, the civil war caused the economy to plummet — GDP shrank by more than 40%, and the Syrian pound depreciated by over 99% against the US dollar throughout 14 years of conflict.
After the Assad administration was overthrown in December 2024, Western nations began removing sanctions and promoting foreign investment to support the country’s reconstruction.
In July, Damascus hosted the inaugural Syria-Saudi Investment Forum, announcing 44 agreements valued at $6 billion.
That same month, Syria finalized an $800 million contract with Dubai Ports World (DP World), one of the globe’s largest port operators, to enhance port infrastructure and logistics services.
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