Commerce President Bashar Al-Assad met with the government’s COVID-19 task force. While the health challenges were on the agenda, discussions also touched on the economic side effects. President Al-Assad noted that there are some...
International Trade Since 2011, imports of goods into Syria have been hindered one way or another by international sanctions, import controls imposed by the government, a depreciated Syrian Pound making imports more expensive, and...
Health The Ministry of Health announced that Syria had officially registered 19 cases of COVID-19 weeks after neighboring countries started reporting their first infections. The actual number of cases is thought by some observers...
Finance The Council of Ministers tasked the Ministry of Interior, the Ministry of Justice and the Central Bank with formulating executive regulations for the implementation of Legislative Decrees 3/2020 and 4/2020 forbidding transactions in...
Industry The number of private industrial facilities licensed according to the Industry Law 21/1958 reached 1,441 in 2019 while four were licensed in accordance with the Investment Law. The total capital of the licensed...
Monetary The 100-year old Syrian Pound came close to hovering near the SYP 1,000 to the US Dollar mark. The Syrian Pound was issued for the first time in 1919. It was linked to...
Energy Domestic oil production is forecasted to reach 90,000 barrels per day in 2020 compared with 24,000 barrels per day in 2019 following the return of government control over oil fields in northern Syria....
Monetary Sources confirmed that the US Dollars deposited into the Lira Intervention Fund by Syrian businesspersons, which reached $1 billion (US) initially, would be pumped into the local foreign exchange markets. As a result,...
Finance Governor Hazem Qarfoul of the Central Bank agreed with his Iranian counterpart to set up a joint Syrian-Iranian banking committee in anticipation of incorporating a joint bank between the two countries. The Damascus...
Commerce Russian Prime Minister Dmitry Medvedev approved a proposal by the Crimean authorities to formalize economic relations with Syria in order to facilitate cross-border trade between Russia and Syria given the shorter maritime distance...