SyriaS economy isโ experiencing accelerating growth as sanctions โขgraduallyโ ease and refugees begin to return, according to the โขcountry’s central bank chief, Mohammad Issam Hazzaa. โThe Syrian pound has stabilized, and โขinitialโ indicators suggest a positive economic trajectory after years of conflict, Hazzaa statedโ in an interview.
The shift โmarksโฃ a potential โturning point for Syria, which has โbeenโ ravaged by โขcivil war and economic hardship since 2011. While โsignificant challenges remain – including widespread infrastructure damageโค and the โคongoing impact of sanctions – the easing of โฃrestrictions and the returnโ of displaced โpopulations โoffer a glimmerโค of hope for recovery. This progress impacts not only Syrians but also regional stability and international efforts โขto address the humanitarian crisis โฃstemming from the conflict. โฃ
Hazzaa reported โคthat Syria’s economic growth rate is currently exceeding expectations, though heโ didโ not provide โa specific percentage. โHe attributedโข the improvement to increased domestic production,a rebound in agricultural output,and a gradualโ resumption of trade wiht neighboring countries. the central bank is focused on maintaining price stability and supporting productive sectors,โฃ he added.
The return of Syrian refugees, primarily from Lebanon โand Jordan, is contributing to the economic recovery, hazzaa said.He noted that the government is working to โprovide housing, employment, and essential services to returning citizens. Though, the โscale of the refugeeโค crisis remains immense, with millions still displaced both within Syria and inโ neighboring countries.
Sanctionsโฃ imposed by โthe United States and the European Union have been a major impediment to Syria’s economic development. While some sanctions remain in place, there have โbeen recent signs ofโ easing, particularly in relation to humanitarianโ aid and reconstruction efforts. โHazzaa expressed optimism that further easing of sanctions โขwould accelerate the country’s โคeconomic โขrecovery.