This 2007 Article IV Consultation highlights that over the past three years, Syria has recovered from a half decade of weak growth, notwithstanding an unsettled regional environment and a sharp drop in oil production. The economic recovery has gained momentum, benefiting from inflows from Iraqi...

This 2009 Article IV Consultation discusses that the impact of the global financial crisis on Syria has been relatively moderate and mostly through linkages to trading partners in the GCC and Europe. Lower growth in manufacturing, construction, and services was partially offset by a moderate...

The staff report for the 2008 Article IV Consultation of the Syrian Arab Republic on economic developments and policies is discussed. The impact of adverse global and regional developments currently under way on the Syrian economy is expected to be relatively moderate in the short term. The...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country

Syria faces two interrelated medium-term challenges posed by the prospective decline in its oil reserves. The recently approved five-year plan (FYP) laid down a comprehensive strategy to address these challenges. Syria’s public finances are headed for challenging times in the coming 10–15...

Non-oil GDP growth in Syria may have risen to about 51⁄2 percent in 2005, from 5 percent in 2004, buoyed by business investment and supported by household consumption and non-oil exports. Private consumption was boosted by rapid credit growth, a boom in real estate prices triggered by capital...

The economic recovery since 2004 has been accompanied by a steady rise in inflation. Several factors have contributed, including an expansionary monetary stance (with credit to the private sector growing by some 45 percent). Although pleased with the recent improvement of the economy, the...

The Syrian Arab Republic’s 2005 Article IV Consultation reports that progress had been made on structural reforms, including a simplification of the exchange rate system, and the adoption of a new income tax law. Rising international oil prices starting in mid-1999 helped maintain financial...

In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country