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20260806 110000 UTC
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[00:00:00] News Hour We start with the most important
[00:00:02] local news. Foreign Minister
[00:00:07] gradual reintegration into and Expatriates Asaad Al-Shaibani affirmed during a press conference
[00:00:09] he held with his Turkish counterpart Hakan Fidan in Ankara that
[00:00:13] Syria constitutes the ideal wall for protecting joint
[00:00:17] borders and coordinating its steps with Ankara
[00:00:20] in response to the common interests between the two countries.
[00:00:23] For his part, Turkish Foreign Minister Hakan Fidan indicated that
[00:00:27] his country seeks to raise the level of relations with
[00:00:30] Syria through new projects in various
[00:00:33] sectors and to increase the number
[00:00:37] the promising of crossings between
[00:00:39] great strides, but the two countries.
[00:00:43] this type of report The Fourth Criminal Court in Damascus began the fifth session of the trial
[00:00:46] of Ahmed Hassoun, accused
[00:00:49] a report is issued by such an entity, of crimes of incitement to violence and justifying killing during
[00:00:52] the era of the former regime. The fourth session
[00:00:55] was held on the 30th of last July, and the court
[00:00:59] heard during it public prosecution witnesses
[00:01:02] who revealed details of financial blackmail
[00:01:06] and abuse of power by the accused,
[00:01:08] Hassoun.
[00:01:12] The activities of the three-day Mashhadan
[00:01:16] Industrial Exhibition, which includes three specialized
[00:01:19] exhibitions, kicked off under the patronage of the Ministry of
[00:01:21] issued by the government. Economy and Industry and organized by the Mashhadan
[00:01:24] International Group, at the Damascus Fairground City.
[00:01:27] The three-day event includes the
[00:01:31] Syria Plast Plastics Industry
[00:01:33] financial markets expert Exhibition in its seventh edition,
[00:01:36] the Chem Expo Chemical Industries
[00:01:38] Corporation. This also increases Exhibition in its sixth
[00:01:39] to Mr. Saud. edition, and the Romex Raw Materials
[00:01:43] and Production Supplies
[00:01:45] of maintaining this Exhibition in its third edition.
[00:01:48] It regularly reviews Civil Defense teams responded to 27
[00:01:51] traffic accidents
[00:01:55] and work to increase How do we read this report? and 123 fires across Syria, resulting in the deaths
[00:01:58] of two citizens and injuries to 30 others,
[00:02:01] including two
[00:02:03] Syrian financial institution firefighters. Civil Defense announced that its teams provided
[00:02:06] first aid to the injured and they were transported
[00:02:10] to hospitals for necessary treatment. They also
[00:02:14] removed the effects of
[00:02:16] and internationally. the accidents and secured
[00:02:19] at all. Therefore, the state must the areas. A new convoy
[00:02:22] departed from the camps of northern Syria heading to
[00:02:25] the northern and northwestern countryside
[00:02:28] in the United States. of Hama, where the convoy includes approximately
[00:02:30] 186 families wishing to
[00:02:34] voluntarily return to
[00:02:36] of this growth. their original areas. This convoy
[00:02:38] before the Syrian revolution. comes within ongoing efforts to support voluntary return
[00:02:41] of gas and oil increases, he may not
[00:02:41] From a practical perspective, to reach levels, as I mentioned, and within the framework of environment, if I may say so, a vision for a Syria without
[00:02:44] camps and the implementation of Decree
[00:02:46] with a fragile economy, No. 59 regarding the rehabilitation of affected
[00:02:50] areas and creating suitable conditions for the return
[00:02:54] of residents to their
[00:02:56] international financial institutions original areas.
[00:03:01] That concludes the summary, and we will begin our news hour after the break.
[00:03:06] actually reflects a new
[00:03:11] this also contributes
[00:03:22] At a time when eyes are turning to indicators of economic recovery
[00:03:27] land for investment. Therefore, in Syria, a new report by the International
[00:03:31] among what was stated in Monetary Fund brings optimistic estimates regarding the performance
[00:03:34] of the economy during the next two years.
[00:03:37] The Fund expects economic growth
[00:03:40] to exceed 10% in 2026,
[00:03:44] contributes most to increasing with positive momentum continuing in the following year,
[00:03:48] supported by improved performance of productive and service sectors,
[00:03:51] implementation of economic reforms,
[00:03:54] and the return of activity to a number of vital
[00:03:58] sectors. The report also indicates an improvement in public
[00:04:02] finances, increased revenues, and a recovery
[00:04:05] in agriculture, energy, and trade, in parallel with
[00:04:08] the return of increasing numbers of refugees
[00:04:12] and visitors, and continued technical support for government
[00:04:17] the nature of this reforms. In a new indicator of improved
[00:04:20] economic performance, the International
[00:04:24] them into contracts, Monetary Fund confirmed that the Syrian
[00:04:25] either the IMF or economy continues to record increasing recovery indicators, expecting economic
[00:04:30] The report does not growth to exceed 10% in
[00:04:33] 2026, with strong growth continuing
[00:04:37] in 2027, supported by improved performance of
[00:04:41] productive and service sectors and continued implementation
[00:04:44] of economic reforms.
[00:04:46] considered limited, whether from This came in a statement issued after a mission of Fund
[00:04:49] experts led by Rom van Roden visited Damascus between
[00:04:53] the 19th and 23rd of July
[00:04:58] which is what raised growth
[00:04:58] refugees to discuss economic developments and implemented
[00:05:02] to see some improvement reforms, and to identify new areas for technical assistance.
[00:05:04] The Fund indicated that the Syrian economy began to recover
[00:05:08] since 2025,
[00:05:10] spending rises, more driven by increased consumer
[00:05:13] and investor confidence, the return of approximately 1.5
[00:05:16] million refugees, and Syria's
[00:05:20] regional and global economies. The statement
[00:05:23] explained that growth forecasts are based on the recovery of the agricultural
[00:05:26] sector thanks to improved rainfall rates, increased
[00:05:30] oil and gas production, improved electricity
[00:05:33] supplies, continued growth in trade and services,
[00:05:36] in addition to the return of refugees and an increase
[00:05:39] in visitors, and continued reforms supporting economic
[00:05:43] stability. Public finances also recorded a significant
[00:05:46] improvement, with a small surplus in the 2025
[00:05:50] budget, and expected revenue growth in 2026
[00:05:53] thanks to increased tax and customs revenues,
[00:05:57] hydrocarbon sector revenues, telecommunications license fees,
[00:06:01] and fuel transit fees. The International Monetary Fund
[00:06:05] stressed the importance of completing banking sector reform,
[00:06:08] strengthening public finance management, developing financial inclusion,
[00:06:12] and improving economic statistics, affirming its continued
[00:06:15] technical support for the Syrian government. In conclusion of its statement,
[00:06:18] the Fund praised the cooperation shown by the Syrian
[00:06:22] authorities, while Finance Minister Mohammad Yasser Bernia considered
[00:06:26] that the positive assessment strengthens confidence in government
[00:06:29] reforms and supports efforts to restore economic stability
[00:06:32] and attract investments.
[00:06:34] To discuss
[00:06:37] the most important points in the report issued by the
[00:06:41] International Monetary Fund, I welcome my guest,
[00:06:45] Mr. Saud Al-Rahbi.
[00:06:48] Welcome, Mr. Saud, to Syrian News.
[00:06:52] First, how do we read the
[00:06:54] report issued by the International Monetary Fund
[00:06:58] and its main points? Good morning, my greetings to you
[00:07:01] and the esteemed viewers.
[00:07:05] I believe this report reflects a new
[00:07:08] reality for the Syrian economy, reaching
[00:07:11] double-digit growth. We are talking about growth that has actually
[00:07:15] exceeded 10%. This is a clear indicator of the Syrian
[00:07:18] economy transitioning from a stage of exhaustion
[00:07:22] to a stage of recovery. This
[00:07:25] 10% growth is expected, in my opinion, as we are talking
[00:07:29] about a country emerging from war.
[00:07:33] Therefore, in economic and financial terms,
[00:07:36] there is something called recovery growth, meaning
[00:07:40] that as soon as we restart the paralyzed
[00:07:43] engines of the economy, we should reach good levels
[00:07:48] Of course, this is from a theoretical perspective.
[00:07:54] this level of growth and for growth to continue
[00:07:58] and be sustainable, and not temporary,
[00:08:01] a lot of work must be done
[00:08:03] on all sectors
[00:08:07] that lead to economic growth, which provide resources
[00:08:10] to the state, whether industrial,
[00:08:12] agricultural, productive sectors, or financial sectors in general. Therefore,
[00:08:16] as I mentioned, this report
[00:08:19] reality in the Syrian economy
[00:08:22] and reflects a noticeable and evident recovery
[00:08:25] for the Syrian economy. It also portends that the Syrian
[00:08:29] economy will continue to recover, God willing, during the coming
[00:08:32] period and sends, I believe, messages of reassurance
[00:08:35] to investors, whether local, regional, or even
[00:08:39] international. Yes. And also,
[00:08:43] the report issued by the International
[00:08:47] Monetary Fund, it was mentioned that the increase
[00:08:50] in revenues was one of its causes,
[00:08:53] namely, tax and customs
[00:08:56] revenues. In your opinion, Mr. Saud, what are
[00:08:59] the other sources
[00:09:01] of revenue?
[00:09:04] Well, there are actually a set of sources that
[00:09:07] actually led to this growth. Certainly,
[00:09:11] the financial source and public revenues are a fundamental
[00:09:14] source. Taxes were reactivated,
[00:09:18] and fees were reactivated,
[00:09:21] and this actually replenished the state treasury
[00:09:24] with good financial amounts and helped the state
[00:09:27] disburse these amounts, whether for salaries and wages
[00:09:31] or for some development sectors. We also must not forget that
[00:09:34] the return of the gas and oil sector to work also
[00:09:38] contributed to pushing the wheel of growth forward.
[00:09:41] We also must not forget that the return of the agricultural
[00:09:45] sector to work also contributed to pushing the wheel
[00:09:48] of growth forward. We also must
[00:09:50] not forget that the return of refugees and the entry
[00:09:54] of investments, even if these investments are still
[00:09:59] the middle category, and below this also
[00:10:02] contributed to raising growth rates. The demand,
[00:10:06] if I may say so, of many
[00:10:11] and Syrian expatriates to return to Syria
[00:10:14] and thus spend their savings
[00:10:17] inside Syria also contributed to stimulating the economy
[00:10:21] and pushing growth forward.
[00:10:25] Therefore, we actually have reactivation and restarting
[00:10:28] of all economic sectors
[00:10:32] that were paralyzed during the past
[00:10:35] period. The agricultural sector is being reactivated.
[00:10:39] The industrial sector is being reactivated. The internal
[00:10:42] and external trade sector has also been reactivated.
[00:10:46] The energy sector, whether oil,
[00:10:49] gas, or electricity, has also been reactivated. Of course,
[00:10:52] I do not mean that we have reached a top
[00:10:56] stage, but we are still in the beginning.
[00:11:00] So imagine that we are still in the beginning and have
[00:11:03] achieved this percentage of growth.
[00:11:06] So, if we continue on the same approach and with the same
[00:11:10] financial and economic management that currently exists in Syria,
[00:11:14] I believe that we may achieve many future growth
[00:11:17] figures. I am not surprised that we may exceed
[00:11:21] 13%, possibly reaching 15% in 2027.
[00:11:25] If the growth momentum and economic momentum continue
[00:11:28] with this intensity, and recovery continues
[00:11:32] in all sectors of the Syrian economy, I expect that we may reach
[00:11:36] levels close to 15% by approximately 2027.
[00:11:39] Yes, I also
[00:11:41] welcome Professor Firas Shaab,
[00:11:45] an economic expert, from Istanbul. Welcome,
[00:11:48] Dr. Firas. First,
[00:11:51] how and what does this report issued
[00:11:54] by the International Monetary Fund mean for the Syrian
[00:11:58] economy? Good greetings.
[00:12:01] Let's describe the situation. The IMF
[00:12:04] has been monitoring the Syrian economic
[00:12:07] situation very closely for more than a year.
[00:12:13] revenues, especially from the Ministry of Finance,
[00:12:16] and the reports issued by the Ministry
[00:12:20] of Finance extensively. In February, it stated that the Syrian
[00:12:23] economy began to accelerate due to improved
[00:12:26] confidence, the return of investors, the return of refugees, improved
[00:12:30] electricity, and rainfall also contributed
[00:12:34] to improving the GDP to some extent, and Syria's
[00:12:38] reintegration regionally
[00:12:41] Therefore, this report is not new; it is a culmination
[00:12:45] of the IMF's monitoring, and it is a very
[00:12:48] important indicator. Today, you are in a country
[00:12:52] emerging from conflict that needs very high growth
[00:12:56] rates, exceeding 10% and 15%, to be able
[00:13:00] to return to what it was
[00:13:03] Today, if this figure were for a stable country,
[00:13:07] it would be huge. However, for a country emerging from conflict
[00:13:11] it needs this figure to continue. The idea is not to achieve
[00:13:14] this figure and then return to low figures in the coming
[00:13:18] years. At least, such figures must be sustained
[00:13:22] for at least five or six years to return
[00:13:25] to what we were before the Syrian revolution. Today,
[00:13:28] the United Nations estimated that the decline
[00:13:31] in GDP in Syria is around 60% to 70%.
[00:13:35] Therefore, we need five or six years to return to what
[00:13:39] we were previously, which is called compensatory growth, not developmental
[00:13:43] growth. In Syria, we are growing today, but we are growing
[00:13:46] by exploiting idle state assets and underutilized
[00:13:50] resources. Actually, we have not really
[00:13:54] grown in the sense of development, but there were idle
[00:13:57] assets, investments were halted,
[00:14:00] and there was mismanagement and corruption.
[00:14:03] Many of these issues were dealt with last
[00:14:06] year, and I believe that in the coming years, God willing,
[00:14:10] these growth rates will exceed
[00:14:13] 10% so that we can
[00:14:15] make up for the losses
[00:14:19] incurred in previous years. Yes, Dr. Firas,
[00:14:23] you mentioned at the beginning of your speech that
[00:14:26] the IMF monitors the financial situation
[00:14:30] and the movement of the economy in Syria since
[00:14:34] the beginning. How do we actually evaluate
[00:14:38] the relationship between the International Monetary Fund and the Syrian
[00:14:41] government? I believe that in the past
[00:14:45] period, the IMF was monitoring management, procedures,
[00:14:48] and laws being issued. There was consultation and exchange
[00:14:52] of opinions with experts in Syria and at the International
[00:14:56] Monetary Fund. We witnessed several meetings between the Minister
[00:14:59] of Finance and the Governor of the Central Bank of Syria with IMF
[00:15:02] staff members. This is a positive indicator that Syria
[00:15:05] is open, Syria desires
[00:15:09] to sustain reforms, and desires
[00:15:12] reforms to be based on sound economic
[00:15:15] structural foundations that essentially consider international
[00:15:19] standards. Today, we have moved from political stability
[00:15:22] to confidence, to investments beginning to improve. We have begun
[00:15:27] in jobs, incomes have begun to improve, consumption
[00:15:30] is rising, and when consumption rises, taxes rise,
[00:15:35] investments, and thus the cycle continues.
[00:15:38] This is the positive scenario on which the IMF
[00:15:41] based its report. Essentially, the IMF
[00:15:45] observes, monitors,
[00:15:48] and cooperates with the Syrian administration so that
[00:15:51] the ministries in Syria are very cooperative.
[00:15:54] Any information or data the IMF needs,
[00:15:57] it obtains without any concealment of information,
[00:16:01] frankly, which is very important. It reflects transparency and the
[00:16:04] administration's desire to sustain this cooperation
[00:16:08] and for Syria to enter
[00:16:11] into cooperation with international
[00:16:15] financial institutions. You are talking about
[00:16:18] the International Monetary Fund,
[00:16:20] the World Bank, and European institutions essentially.
[00:16:24] And it is an indicator when
[00:16:27] which is considered the apex of the global
[00:16:30] Therefore, this is a positive indicator for European
[00:16:34] countries and investors, whether domestic,
[00:16:37] regional, or foreign. Syria has begun the recovery
[00:16:40] phase and the reform phase, and these reforms
[00:16:44] are being monitored and followed closely, which means
[00:16:48] the government is obligated to continue these reforms
[00:16:51] because there is an external monitor issuing
[00:16:53] reports, and this report is not
[00:16:58] Therefore, it should not be considered
[00:17:02] that there are interventions to raise this report. No, this
[00:17:05] is a neutral report issued by a neutral party that has
[00:17:08] no interest in this. And this is indeed
[00:17:12] an important point, Dr. Firas. Allow me to return
[00:17:16] Mr. Saud, Dr. Firas mentioned the importance
[00:17:19] and necessity
[00:17:22] sustainability in the percentage of 10% in the coming
[00:17:26] years. In your opinion, how can we actually
[00:17:30] maintain these percentages
[00:17:33] them? I mentioned to you
[00:17:35] at the beginning that the continuation and sustainability
[00:17:39] of the growth rate and the increase in growth rates
[00:17:42] is the real future challenge. However, I can say
[00:17:45] that based on the economic and financial policies adopted
[00:17:49] in Syria, I can say that we will continue,
[00:17:52] God willing, unless there are regional circumstances
[00:17:56] that might expand the scope of the conflict, etc. This
[00:17:59] might affect growth to some extent, and might even affect it greatly.
[00:18:03] However, if the regional circumstances remain as
[00:18:06] they are, and the economic and financial performance of the Syrian
[00:18:10] government continues as it is, and attracting
[00:18:12] investors continues, I believe that we may reach
[00:18:16] close to 15% in 2027.
[00:18:20] Therefore, continuing the current economic approach
[00:18:23] and the current economic and financial management, and developing
[00:18:27] this approach, not retreating, is what can guarantee us,
[00:18:30] to some extent, the continuation of growth and its sustainability
[00:18:34] for the coming year and the year after. Also, continuing
[00:18:38] to attract investments, converting memorandums of understanding
[00:18:41] that were signed during the past period into
[00:18:45] real contracts on the ground,
[00:18:48] to growth and
[00:18:51] to stimulating the economy more and more. Also, reactivating
[00:18:54] or continuing to activate many state institutions
[00:18:57] that are, so to speak, paralyzed, or from public sector companies that are paralyzed,
[00:19:01] developing them,
[00:19:03] nurturing them, investing in them, reactivating them anew,
[00:19:08] and giving them to the private sector primarily, because actually,
[00:19:12] I do not advocate for the state to be the operator of the
[00:19:16] productive sector, but rather I advocate for the private
[00:19:19] sector to be the operator, and the state
[00:19:22] takes the role of regulator and supervisor,
[00:19:26] no more, no less, and does not interfere in production processes,
[00:19:29] company processes, company factories, plants, etc.
[00:19:32] Therefore, the former regime has many
[00:19:36] industrial, agricultural, and commercial companies.
[00:19:40] These companies, of course, are virtually bankrupt;
[00:19:43] they were not profitable companies.
[00:19:46] Therefore, giving these companies to investors
[00:19:49] will also contribute to
[00:19:52] the continuation of growth, and thus the trend
[00:19:56] towards investment, activating memorandums of understanding, converting
[00:20:01] benefiting more and more from state resources from
[00:20:05] unprofitable, bankrupt public sector companies,
[00:20:08] and converting them to investors so that they transform from bankruptcy and stagnation
[00:20:12] to production.
[00:20:14] This also, to some extent, guarantees
[00:20:17] the sustainability of growth,
[00:20:20] improving the energy sector also guarantees the sustainability
[00:20:23] of growth, reactivating wells, maintaining them,
[00:20:26] operating them, rehabilitating them anew,
[00:20:29] this also guarantees the sustainability of growth,
[00:20:33] and certainly improving the living conditions, or in other words,
[00:20:37] improving individual income, because despite all the increases
[00:20:41] that occurred during the past period, individual income
[00:20:44] in Syria is still somewhat below the required
[00:20:47] level. This also contributes to the continuation of growth,
[00:20:51] to the extent possible, God willing.
[00:20:54] Yes. Also, after the
[00:20:57] report, the IMF report, the Finance
[00:21:01] Minister stated that the Fund's positive
[00:21:04] assessment strengthens confidence in government
[00:21:08] reforms, and this will reflect on the volume
[00:21:11] of foreign investments that can enter
[00:21:14] Syria. In your opinion, how
[00:21:18] do such reports and their conclusions contribute
[00:21:21] to giving foreign investments the necessary
[00:21:24] confidence to enter
[00:21:27] Syrian market? Indeed,
[00:21:33] contributes to boosting the confidence
[00:21:36] of local, regional, and foreign investors in the Syrian
[00:21:40] economy. It is not just the report that contributes
[00:21:44] to that, but also the entity that issues this report.
[00:21:47] Today, the entity that issued this report is the International
[00:21:51] Monetary Fund, which is considered one of the largest
[00:21:54] official economic and financial institutions
[00:21:57] in the world. Therefore, the reports issued by
[00:22:01] these official global bodies are reliable reports
[00:22:05] and represent, if I may say so, a safety
[00:22:08] certificate or not for local,
[00:22:10] regional, and international investors.
[00:22:14] What gives this report great credibility
[00:22:18] for me is the previous
[00:22:21] performance of the Syrian financial team. It is
[00:22:25] a transparent performance. The Syrian ministries in general,
[00:22:29] and I am specifically referring to the Ministry of Finance,
[00:22:32] have been very transparent in their reports and dealings
[00:22:36] with regional and international financial institutions. This has
[00:22:39] created a strong sense of trust, not a simple
[00:22:43] or ordinary trust, or even natural trust, but rather
[00:22:47] a strong trust between the official financial institutions
[00:22:50] on one hand, and the official
[00:22:53] on the other. Syria was actually keen on
[00:22:56] keeping official monetary institutions informed, and we saw
[00:22:59] this over the past year through the shuttle visits
[00:23:03] made by the Minister of Finance and the former Governor
[00:23:06] of the Central Bank of Syria, as well as the Minister of Economy,
[00:23:10] to the International Monetary Fund, the World Bank,
[00:23:13] and international credit rating agencies based
[00:23:18] Therefore, these institutions were always kept informed
[00:23:21] of the financial performance of the Syrian government
[00:23:25] and the legal development and improvement of the legal
[00:23:29] carried out by the financial administration in the Syrian
[00:23:32] government. The opinion of these institutions was always
[00:23:36] sought on any legal legislation. This increased,
[00:23:39] if I may say so, the trust between
[00:23:43] the two parties: the official
[00:23:46] on one hand, and the official Syrian financial institution
[00:23:50] on the other. Therefore, the issuance of this report, which is considered
[00:23:53] a result of the transparency in the performance of the Syrian
[00:23:57] financial administration or the official Syrian financial institution,
[00:24:01] gives great confidence to investors, whether local,
[00:24:04] regional, or international. Therefore, it sends
[00:24:07] them a message of reassurance that the Syrian state
[00:24:11] or Syrian territory is a ready land
[00:24:14] for investment; it is a fertile
[00:24:17] you can enter and contribute to this growth.
[00:24:21] Therefore, in my estimation, this report is a very
[00:24:24] strong and simple message of reassurance.
[00:24:27] Yes. I return to you, Dr. Firas.
[00:24:31] In your opinion, what
[00:24:34] these growth figures in the coming years?
[00:24:38] Is it domestic or foreign investments,
[00:24:42] or the reforms implemented by the government?
[00:24:45] Actually, it is an integrated package of
[00:24:48] measures, reforms,
[00:24:50] investments, and efficiency
[00:24:54] in managing state assets, essentially,
[00:24:57] whether at the level of
[00:25:00] financial ministries or service ministries
[00:25:03] essentially. However, the question here is, to understand
[00:25:07] growth, is it growth resulting from oil and gas
[00:25:11] only? You know that Syria has regained
[00:25:14] a large part of its oil and gas fields and natural
[00:25:17] resources.
[00:25:20] show the growth or the nature
[00:25:24] of this growth. Is it due to actual improvement
[00:25:28] in many state sectors, or was it limited
[00:25:31] to a specific sector that contributed to
[00:25:35] its impact being reflected
[00:25:37] across all state sectors? This is very important
[00:25:41] because if growth is heading
[00:25:43] towards oil and gas primarily,
[00:25:48] rates, then this will not make the citizen
[00:25:52] feel the improvement. Today, we can be realistic. When we talk
[00:25:55] about 10% improvement and growth and an increase in GDP,
[00:25:59] it is a wonderful thing, but for the citizen,
[00:26:02] he wants to feel this through his salary. He measures
[00:26:06] growth by his salary. He measures growth by what
[00:26:09] he can buy with his salary. He measures growth
[00:26:13] by purchasing power. Will unemployment decrease?
[00:26:17] Will prices improve? He measures
[00:26:20] growth by his salary. He measures growth by what he can
[00:26:23] buy with his salary. He measures growth by
[00:26:27] purchasing power. Will unemployment decrease? Will
[00:26:30] energy
[00:26:35] improve in terms of crossings? Syria
[00:26:38] has made
[00:26:42] this requires practical action, Dr. Firas.
[00:26:45] We must note here that there are indeed
[00:26:49] changes happening in Syria on all
[00:26:52] levels. Recently, or today,
[00:26:55] there was a report or
[00:26:59] a statement issued by the Syrian
[00:27:03] Grain Corporation, for example, saying that it has
[00:27:06] achieved self-sufficiency in wheat.
[00:27:09] Therefore, this is considered one of the types
[00:27:13] and angles of improvement
[00:27:15] in the Syrian situation. Also, on the topic
[00:27:19] of salaries, there have been increases.
[00:27:23] As for oil
[00:27:26] and energy, as I mentioned and you elaborated,
[00:27:30] most of the fields
[00:27:33] have been returned to the Syrian government
[00:27:36] and are managed by the Syrian Petroleum
[00:27:40] production and so on. And it also definitely
[00:27:44] improves and provides more job
[00:27:48] opportunities. Therefore, there is
[00:27:51] somewhat of a balance to a large extent
[00:27:54] between what the report says and what
[00:27:58] is happening on the ground. What do you think? Yes.
[00:28:02] Yes. I mean, anyone who follows the Syrian economy and the Syrian situation
[00:28:05] fully realizes that the Syrian economy
[00:28:08] is improving and moving with accelerated steps towards the better.
[00:28:12] However, the question is, does the citizen
[00:28:16] feel this improvement, given that the citizen lives in this environment, he does not feel this improvement
[00:28:22] truly be aware of directing growth rates
[00:28:25] in a way that the citizen feels it. I mean, today, when
[00:28:29] the state's production
[00:28:32] of gas and oil increases, the citizen may not immediately feel this. He
[00:28:36] feels the services provided by the state. Today, when
[00:28:39] the state's production
[00:28:44] immediately feel this. He feels the services that
[00:28:47] the state provides. He feels
[00:28:50] a decrease in unemployment, which is comprehensive for all sectors of the state and not a focus
[00:28:54] on one sector over another. Because focusing on one of the sectors
[00:28:57] will contribute to a significant increase in the average rate, because Syria today, according to
[00:29:01] various estimates, needs approximately 280 to 300
[00:29:05] billion dollars, which is a very large number. Therefore, it is fertile ground
[00:29:08] for investments in any sector, and any investment in any sector may significantly increase growth rates.
[00:29:12] Therefore, growth rates must be balanced
[00:29:16] and equal across all sectors of the state on
[00:29:20] one level, so that we all feel it, and the citizen feels it, and the
[00:29:24] visitor and tourist feel that there is truly a qualitative leap.
[00:29:27] Also, the report mentioned a very important issue, which is
[00:29:31] revitalizing the banking sector and restoring and strengthening the role
[00:29:34] of banks, which was somewhat absent in recent periods from the Syrian economy,
[00:29:38] and strengthening the issue of combating terrorism
[00:29:41] and money laundering fundamentally, which is indeed something
[00:29:45] we need in Syria today. The banking sector is still
[00:29:48] in a coma until now.
[00:29:52] This sector has not yet been activated. Today, we are entering a reconstruction phase
[00:29:56] and need banking institutions to lead this phase through
[00:29:59] loans, investments, and support for projects. We truly need
[00:30:03] these financial institutions that contribute somewhat to
[00:30:06] pushing the wheel of the economy
[00:30:09] and supporting the recovery phase fundamentally, which is an important
[00:30:12] matter at this stage. God willing. God willing. Allow
[00:30:16] me to return to you, Professor Saud. Finally, in your opinion, what is
[00:30:19] the technical support that Syria
[00:30:23] truly needs from
[00:30:28] the World Bank to further advance
[00:30:32] the Syrian economic reality?
[00:30:35] In my estimation, what Syria needs primarily
[00:30:38] and most importantly for me,