World Bank: Recovery of the Syrian economy is conditional on improving security conditions and easing sanctions

The World Bank issued a new report today, Tuesday, on the economic situation in Syria, indicating that the path to recovery in the country remains contingent on improving security conditions, stabilizing institutions, and easing international sanctions, in addition to increasing economic participation from the international community.  

The report clarified that the Syrian economy may record a slight growth of around 1% during the current year, but this growth remains fragile in light of the "uncertainty" surrounding the political and economic scene.  

The bank pointed out that the Syrian government faces significant challenges in restoring citizens' trust after more than a decade of conflict, noting that the gross domestic product shrank by 53% between 2010 and 2022, which led to Syria being classified among low-income countries since 2018.  

The report confirmed that any sustainable economic improvement requires deep structural reforms, alongside providing a safe environment for investment and ensuring effective access to humanitarian and developmental assistance.