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00:00:00News Hour We start with the most important
00:00:02local news. Foreign Minister
00:00:07gradual reintegration into and Expatriates Asaad Al-Shaibani affirmed during a press conference
00:00:09he held with his Turkish counterpart Hakan Fidan in Ankara that
00:00:13Syria constitutes the ideal wall for protecting joint
00:00:17borders and coordinating its steps with Ankara
00:00:20in response to the common interests between the two countries.
00:00:23For his part, Turkish Foreign Minister Hakan Fidan indicated that
00:00:27his country seeks to raise the level of relations with
00:00:30Syria through new projects in various
00:00:33sectors and to increase the number
00:00:37the promising of crossings between
00:00:39great strides, but the two countries.
00:00:43this type of report The Fourth Criminal Court in Damascus began the fifth session of the trial
00:00:46of Ahmed Hassoun, accused
00:00:49a report is issued by such an entity, of crimes of incitement to violence and justifying killing during
00:00:52the era of the former regime. The fourth session
00:00:55was held on the 30th of last July, and the court
00:00:59heard during it public prosecution witnesses
00:01:02who revealed details of financial blackmail
00:01:06and abuse of power by the accused,
00:01:08Hassoun.
00:01:12The activities of the three-day Mashhadan
00:01:16Industrial Exhibition, which includes three specialized
00:01:19exhibitions, kicked off under the patronage of the Ministry of
00:01:21issued by the government. Economy and Industry and organized by the Mashhadan
00:01:24International Group, at the Damascus Fairground City.
00:01:27The three-day event includes the
00:01:31Syria Plast Plastics Industry
00:01:33financial markets expert Exhibition in its seventh edition,
00:01:36the Chem Expo Chemical Industries
00:01:38Corporation. This also increases Exhibition in its sixth
00:01:39to Mr. Saud. edition, and the Romex Raw Materials
00:01:43and Production Supplies
00:01:45of maintaining this Exhibition in its third edition.
00:01:48It regularly reviews Civil Defense teams responded to 27
00:01:51traffic accidents
00:01:55and work to increase How do we read this report? and 123 fires across Syria, resulting in the deaths
00:01:58of two citizens and injuries to 30 others,
00:02:01including two
00:02:03Syrian financial institution firefighters. Civil Defense announced that its teams provided
00:02:06first aid to the injured and they were transported
00:02:10to hospitals for necessary treatment. They also
00:02:14removed the effects of
00:02:16and internationally. the accidents and secured
00:02:19at all. Therefore, the state must the areas. A new convoy
00:02:22departed from the camps of northern Syria heading to
00:02:25the northern and northwestern countryside
00:02:28in the United States. of Hama, where the convoy includes approximately
00:02:30186 families wishing to
00:02:34voluntarily return to
00:02:36of this growth. their original areas. This convoy
00:02:38before the Syrian revolution. comes within ongoing efforts to support voluntary return
00:02:41of gas and oil increases, he may not
00:02:41From 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
00:02:44camps and the implementation of Decree
00:02:46with a fragile economy, No. 59 regarding the rehabilitation of affected
00:02:50areas and creating suitable conditions for the return
00:02:54of residents to their
00:02:56international financial institutions original areas.
00:03:01That concludes the summary, and we will begin our news hour after the break.
00:03:06actually reflects a new
00:03:11this also contributes
00:03:22At a time when eyes are turning to indicators of economic recovery
00:03:27land for investment. Therefore, in Syria, a new report by the International
00:03:31among what was stated in Monetary Fund brings optimistic estimates regarding the performance
00:03:34of the economy during the next two years.
00:03:37The Fund expects economic growth
00:03:40to exceed 10% in 2026,
00:03:44contributes most to increasing with positive momentum continuing in the following year,
00:03:48supported by improved performance of productive and service sectors,
00:03:51implementation of economic reforms,
00:03:54and the return of activity to a number of vital
00:03:58sectors. The report also indicates an improvement in public
00:04:02finances, increased revenues, and a recovery
00:04:05in agriculture, energy, and trade, in parallel with
00:04:08the return of increasing numbers of refugees
00:04:12and visitors, and continued technical support for government
00:04:17the nature of this reforms. In a new indicator of improved
00:04:20economic performance, the International
00:04:24them into contracts, Monetary Fund confirmed that the Syrian
00:04:25either the IMF or economy continues to record increasing recovery indicators, expecting economic
00:04:30The report does not growth to exceed 10% in
00:04:332026, with strong growth continuing
00:04:37in 2027, supported by improved performance of
00:04:41productive and service sectors and continued implementation
00:04:44of economic reforms.
00:04:46considered limited, whether from This came in a statement issued after a mission of Fund
00:04:49experts led by Rom van Roden visited Damascus between
00:04:53the 19th and 23rd of July
00:04:58which is what raised growth
00:04:58refugees to discuss economic developments and implemented
00:05:02to see some improvement reforms, and to identify new areas for technical assistance.
00:05:04The Fund indicated that the Syrian economy began to recover
00:05:08since 2025,
00:05:10spending rises, more driven by increased consumer
00:05:13and investor confidence, the return of approximately 1.5
00:05:16million refugees, and Syria's
00:05:20regional and global economies. The statement
00:05:23explained that growth forecasts are based on the recovery of the agricultural
00:05:26sector thanks to improved rainfall rates, increased
00:05:30oil and gas production, improved electricity
00:05:33supplies, continued growth in trade and services,
00:05:36in addition to the return of refugees and an increase
00:05:39in visitors, and continued reforms supporting economic
00:05:43stability. Public finances also recorded a significant
00:05:46improvement, with a small surplus in the 2025
00:05:50budget, and expected revenue growth in 2026
00:05:53thanks to increased tax and customs revenues,
00:05:57hydrocarbon sector revenues, telecommunications license fees,
00:06:01and fuel transit fees. The International Monetary Fund
00:06:05stressed the importance of completing banking sector reform,
00:06:08strengthening public finance management, developing financial inclusion,
00:06:12and improving economic statistics, affirming its continued
00:06:15technical support for the Syrian government. In conclusion of its statement,
00:06:18the Fund praised the cooperation shown by the Syrian
00:06:22authorities, while Finance Minister Mohammad Yasser Bernia considered
00:06:26that the positive assessment strengthens confidence in government
00:06:29reforms and supports efforts to restore economic stability
00:06:32and attract investments.
00:06:34To discuss
00:06:37the most important points in the report issued by the
00:06:41International Monetary Fund, I welcome my guest,
00:06:45Mr. Saud Al-Rahbi.
00:06:48Welcome, Mr. Saud, to Syrian News.
00:06:52First, how do we read the
00:06:54report issued by the International Monetary Fund
00:06:58and its main points? Good morning, my greetings to you
00:07:01and the esteemed viewers.
00:07:05I believe this report reflects a new
00:07:08reality for the Syrian economy, reaching
00:07:11double-digit growth. We are talking about growth that has actually
00:07:15exceeded 10%. This is a clear indicator of the Syrian
00:07:18economy transitioning from a stage of exhaustion
00:07:22to a stage of recovery. This
00:07:2510% growth is expected, in my opinion, as we are talking
00:07:29about a country emerging from war.
00:07:33Therefore, in economic and financial terms,
00:07:36there is something called recovery growth, meaning
00:07:40that as soon as we restart the paralyzed
00:07:43engines of the economy, we should reach good levels
00:07:48Of course, this is from a theoretical perspective.
00:07:54this level of growth and for growth to continue
00:07:58and be sustainable, and not temporary,
00:08:01a lot of work must be done
00:08:03on all sectors
00:08:07that lead to economic growth, which provide resources
00:08:10to the state, whether industrial,
00:08:12agricultural, productive sectors, or financial sectors in general. Therefore,
00:08:16as I mentioned, this report
00:08:19reality in the Syrian economy
00:08:22and reflects a noticeable and evident recovery
00:08:25for the Syrian economy. It also portends that the Syrian
00:08:29economy will continue to recover, God willing, during the coming
00:08:32period and sends, I believe, messages of reassurance
00:08:35to investors, whether local, regional, or even
00:08:39international. Yes. And also,
00:08:43the report issued by the International
00:08:47Monetary Fund, it was mentioned that the increase
00:08:50in revenues was one of its causes,
00:08:53namely, tax and customs
00:08:56revenues. In your opinion, Mr. Saud, what are
00:08:59the other sources
00:09:01of revenue?
00:09:04Well, there are actually a set of sources that
00:09:07actually led to this growth. Certainly,
00:09:11the financial source and public revenues are a fundamental
00:09:14source. Taxes were reactivated,
00:09:18and fees were reactivated,
00:09:21and this actually replenished the state treasury
00:09:24with good financial amounts and helped the state
00:09:27disburse these amounts, whether for salaries and wages
00:09:31or for some development sectors. We also must not forget that
00:09:34the return of the gas and oil sector to work also
00:09:38contributed to pushing the wheel of growth forward.
00:09:41We also must not forget that the return of the agricultural
00:09:45sector to work also contributed to pushing the wheel
00:09:48of growth forward. We also must
00:09:50not forget that the return of refugees and the entry
00:09:54of investments, even if these investments are still
00:09:59the middle category, and below this also
00:10:02contributed to raising growth rates. The demand,
00:10:06if I may say so, of many
00:10:11and Syrian expatriates to return to Syria
00:10:14and thus spend their savings
00:10:17inside Syria also contributed to stimulating the economy
00:10:21and pushing growth forward.
00:10:25Therefore, we actually have reactivation and restarting
00:10:28of all economic sectors
00:10:32that were paralyzed during the past
00:10:35period. The agricultural sector is being reactivated.
00:10:39The industrial sector is being reactivated. The internal
00:10:42and external trade sector has also been reactivated.
00:10:46The energy sector, whether oil,
00:10:49gas, or electricity, has also been reactivated. Of course,
00:10:52I do not mean that we have reached a top
00:10:56stage, but we are still in the beginning.
00:11:00So imagine that we are still in the beginning and have
00:11:03achieved this percentage of growth.
00:11:06So, if we continue on the same approach and with the same
00:11:10financial and economic management that currently exists in Syria,
00:11:14I believe that we may achieve many future growth
00:11:17figures. I am not surprised that we may exceed
00:11:2113%, possibly reaching 15% in 2027.
00:11:25If the growth momentum and economic momentum continue
00:11:28with this intensity, and recovery continues
00:11:32in all sectors of the Syrian economy, I expect that we may reach
00:11:36levels close to 15% by approximately 2027.
00:11:39Yes, I also
00:11:41welcome Professor Firas Shaab,
00:11:45an economic expert, from Istanbul. Welcome,
00:11:48Dr. Firas. First,
00:11:51how and what does this report issued
00:11:54by the International Monetary Fund mean for the Syrian
00:11:58economy? Good greetings.
00:12:01Let's describe the situation. The IMF
00:12:04has been monitoring the Syrian economic
00:12:07situation very closely for more than a year.
00:12:13revenues, especially from the Ministry of Finance,
00:12:16and the reports issued by the Ministry
00:12:20of Finance extensively. In February, it stated that the Syrian
00:12:23economy began to accelerate due to improved
00:12:26confidence, the return of investors, the return of refugees, improved
00:12:30electricity, and rainfall also contributed
00:12:34to improving the GDP to some extent, and Syria's
00:12:38reintegration regionally
00:12:41Therefore, this report is not new; it is a culmination
00:12:45of the IMF's monitoring, and it is a very
00:12:48important indicator. Today, you are in a country
00:12:52emerging from conflict that needs very high growth
00:12:56rates, exceeding 10% and 15%, to be able
00:13:00to return to what it was
00:13:03Today, if this figure were for a stable country,
00:13:07it would be huge. However, for a country emerging from conflict
00:13:11it needs this figure to continue. The idea is not to achieve
00:13:14this figure and then return to low figures in the coming
00:13:18years. At least, such figures must be sustained
00:13:22for at least five or six years to return
00:13:25to what we were before the Syrian revolution. Today,
00:13:28the United Nations estimated that the decline
00:13:31in GDP in Syria is around 60% to 70%.
00:13:35Therefore, we need five or six years to return to what
00:13:39we were previously, which is called compensatory growth, not developmental
00:13:43growth. In Syria, we are growing today, but we are growing
00:13:46by exploiting idle state assets and underutilized
00:13:50resources. Actually, we have not really
00:13:54grown in the sense of development, but there were idle
00:13:57assets, investments were halted,
00:14:00and there was mismanagement and corruption.
00:14:03Many of these issues were dealt with last
00:14:06year, and I believe that in the coming years, God willing,
00:14:10these growth rates will exceed
00:14:1310% so that we can
00:14:15make up for the losses
00:14:19incurred in previous years. Yes, Dr. Firas,
00:14:23you mentioned at the beginning of your speech that
00:14:26the IMF monitors the financial situation
00:14:30and the movement of the economy in Syria since
00:14:34the beginning. How do we actually evaluate
00:14:38the relationship between the International Monetary Fund and the Syrian
00:14:41government? I believe that in the past
00:14:45period, the IMF was monitoring management, procedures,
00:14:48and laws being issued. There was consultation and exchange
00:14:52of opinions with experts in Syria and at the International
00:14:56Monetary Fund. We witnessed several meetings between the Minister
00:14:59of Finance and the Governor of the Central Bank of Syria with IMF
00:15:02staff members. This is a positive indicator that Syria
00:15:05is open, Syria desires
00:15:09to sustain reforms, and desires
00:15:12reforms to be based on sound economic
00:15:15structural foundations that essentially consider international
00:15:19standards. Today, we have moved from political stability
00:15:22to confidence, to investments beginning to improve. We have begun
00:15:27in jobs, incomes have begun to improve, consumption
00:15:30is rising, and when consumption rises, taxes rise,
00:15:35investments, and thus the cycle continues.
00:15:38This is the positive scenario on which the IMF
00:15:41based its report. Essentially, the IMF
00:15:45observes, monitors,
00:15:48and cooperates with the Syrian administration so that
00:15:51the ministries in Syria are very cooperative.
00:15:54Any information or data the IMF needs,
00:15:57it obtains without any concealment of information,
00:16:01frankly, which is very important. It reflects transparency and the
00:16:04administration's desire to sustain this cooperation
00:16:08and for Syria to enter
00:16:11into cooperation with international
00:16:15financial institutions. You are talking about
00:16:18the International Monetary Fund,
00:16:20the World Bank, and European institutions essentially.
00:16:24And it is an indicator when
00:16:27which is considered the apex of the global
00:16:30Therefore, this is a positive indicator for European
00:16:34countries and investors, whether domestic,
00:16:37regional, or foreign. Syria has begun the recovery
00:16:40phase and the reform phase, and these reforms
00:16:44are being monitored and followed closely, which means
00:16:48the government is obligated to continue these reforms
00:16:51because there is an external monitor issuing
00:16:53reports, and this report is not
00:16:58Therefore, it should not be considered
00:17:02that there are interventions to raise this report. No, this
00:17:05is a neutral report issued by a neutral party that has
00:17:08no interest in this. And this is indeed
00:17:12an important point, Dr. Firas. Allow me to return
00:17:16Mr. Saud, Dr. Firas mentioned the importance
00:17:19and necessity
00:17:22sustainability in the percentage of 10% in the coming
00:17:26years. In your opinion, how can we actually
00:17:30maintain these percentages
00:17:33them? I mentioned to you
00:17:35at the beginning that the continuation and sustainability
00:17:39of the growth rate and the increase in growth rates
00:17:42is the real future challenge. However, I can say
00:17:45that based on the economic and financial policies adopted
00:17:49in Syria, I can say that we will continue,
00:17:52God willing, unless there are regional circumstances
00:17:56that might expand the scope of the conflict, etc. This
00:17:59might affect growth to some extent, and might even affect it greatly.
00:18:03However, if the regional circumstances remain as
00:18:06they are, and the economic and financial performance of the Syrian
00:18:10government continues as it is, and attracting
00:18:12investors continues, I believe that we may reach
00:18:16close to 15% in 2027.
00:18:20Therefore, continuing the current economic approach
00:18:23and the current economic and financial management, and developing
00:18:27this approach, not retreating, is what can guarantee us,
00:18:30to some extent, the continuation of growth and its sustainability
00:18:34for the coming year and the year after. Also, continuing
00:18:38to attract investments, converting memorandums of understanding
00:18:41that were signed during the past period into
00:18:45real contracts on the ground,
00:18:48to growth and
00:18:51to stimulating the economy more and more. Also, reactivating
00:18:54or continuing to activate many state institutions
00:18:57that are, so to speak, paralyzed, or from public sector companies that are paralyzed,
00:19:01developing them,
00:19:03nurturing them, investing in them, reactivating them anew,
00:19:08and giving them to the private sector primarily, because actually,
00:19:12I do not advocate for the state to be the operator of the
00:19:16productive sector, but rather I advocate for the private
00:19:19sector to be the operator, and the state
00:19:22takes the role of regulator and supervisor,
00:19:26no more, no less, and does not interfere in production processes,
00:19:29company processes, company factories, plants, etc.
00:19:32Therefore, the former regime has many
00:19:36industrial, agricultural, and commercial companies.
00:19:40These companies, of course, are virtually bankrupt;
00:19:43they were not profitable companies.
00:19:46Therefore, giving these companies to investors
00:19:49will also contribute to
00:19:52the continuation of growth, and thus the trend
00:19:56towards investment, activating memorandums of understanding, converting
00:20:01benefiting more and more from state resources from
00:20:05unprofitable, bankrupt public sector companies,
00:20:08and converting them to investors so that they transform from bankruptcy and stagnation
00:20:12to production.
00:20:14This also, to some extent, guarantees
00:20:17the sustainability of growth,
00:20:20improving the energy sector also guarantees the sustainability
00:20:23of growth, reactivating wells, maintaining them,
00:20:26operating them, rehabilitating them anew,
00:20:29this also guarantees the sustainability of growth,
00:20:33and certainly improving the living conditions, or in other words,
00:20:37improving individual income, because despite all the increases
00:20:41that occurred during the past period, individual income
00:20:44in Syria is still somewhat below the required
00:20:47level. This also contributes to the continuation of growth,
00:20:51to the extent possible, God willing.
00:20:54Yes. Also, after the
00:20:57report, the IMF report, the Finance
00:21:01Minister stated that the Fund's positive
00:21:04assessment strengthens confidence in government
00:21:08reforms, and this will reflect on the volume
00:21:11of foreign investments that can enter
00:21:14Syria. In your opinion, how
00:21:18do such reports and their conclusions contribute
00:21:21to giving foreign investments the necessary
00:21:24confidence to enter
00:21:27Syrian market? Indeed,
00:21:33contributes to boosting the confidence
00:21:36of local, regional, and foreign investors in the Syrian
00:21:40economy. It is not just the report that contributes
00:21:44to that, but also the entity that issues this report.
00:21:47Today, the entity that issued this report is the International
00:21:51Monetary Fund, which is considered one of the largest
00:21:54official economic and financial institutions
00:21:57in the world. Therefore, the reports issued by
00:22:01these official global bodies are reliable reports
00:22:05and represent, if I may say so, a safety
00:22:08certificate or not for local,
00:22:10regional, and international investors.
00:22:14What gives this report great credibility
00:22:18for me is the previous
00:22:21performance of the Syrian financial team. It is
00:22:25a transparent performance. The Syrian ministries in general,
00:22:29and I am specifically referring to the Ministry of Finance,
00:22:32have been very transparent in their reports and dealings
00:22:36with regional and international financial institutions. This has
00:22:39created a strong sense of trust, not a simple
00:22:43or ordinary trust, or even natural trust, but rather
00:22:47a strong trust between the official financial institutions
00:22:50on one hand, and the official
00:22:53on the other. Syria was actually keen on
00:22:56keeping official monetary institutions informed, and we saw
00:22:59this over the past year through the shuttle visits
00:23:03made by the Minister of Finance and the former Governor
00:23:06of the Central Bank of Syria, as well as the Minister of Economy,
00:23:10to the International Monetary Fund, the World Bank,
00:23:13and international credit rating agencies based
00:23:18Therefore, these institutions were always kept informed
00:23:21of the financial performance of the Syrian government
00:23:25and the legal development and improvement of the legal
00:23:29carried out by the financial administration in the Syrian
00:23:32government. The opinion of these institutions was always
00:23:36sought on any legal legislation. This increased,
00:23:39if I may say so, the trust between
00:23:43the two parties: the official
00:23:46on one hand, and the official Syrian financial institution
00:23:50on the other. Therefore, the issuance of this report, which is considered
00:23:53a result of the transparency in the performance of the Syrian
00:23:57financial administration or the official Syrian financial institution,
00:24:01gives great confidence to investors, whether local,
00:24:04regional, or international. Therefore, it sends
00:24:07them a message of reassurance that the Syrian state
00:24:11or Syrian territory is a ready land
00:24:14for investment; it is a fertile
00:24:17you can enter and contribute to this growth.
00:24:21Therefore, in my estimation, this report is a very
00:24:24strong and simple message of reassurance.
00:24:27Yes. I return to you, Dr. Firas.
00:24:31In your opinion, what
00:24:34these growth figures in the coming years?
00:24:38Is it domestic or foreign investments,
00:24:42or the reforms implemented by the government?
00:24:45Actually, it is an integrated package of
00:24:48measures, reforms,
00:24:50investments, and efficiency
00:24:54in managing state assets, essentially,
00:24:57whether at the level of
00:25:00financial ministries or service ministries
00:25:03essentially. However, the question here is, to understand
00:25:07growth, is it growth resulting from oil and gas
00:25:11only? You know that Syria has regained
00:25:14a large part of its oil and gas fields and natural
00:25:17resources.
00:25:20show the growth or the nature
00:25:24of this growth. Is it due to actual improvement
00:25:28in many state sectors, or was it limited
00:25:31to a specific sector that contributed to
00:25:35its impact being reflected
00:25:37across all state sectors? This is very important
00:25:41because if growth is heading
00:25:43towards oil and gas primarily,
00:25:48rates, then this will not make the citizen
00:25:52feel the improvement. Today, we can be realistic. When we talk
00:25:55about 10% improvement and growth and an increase in GDP,
00:25:59it is a wonderful thing, but for the citizen,
00:26:02he wants to feel this through his salary. He measures
00:26:06growth by his salary. He measures growth by what
00:26:09he can buy with his salary. He measures growth
00:26:13by purchasing power. Will unemployment decrease?
00:26:17Will prices improve? He measures
00:26:20growth by his salary. He measures growth by what he can
00:26:23buy with his salary. He measures growth by
00:26:27purchasing power. Will unemployment decrease? Will
00:26:30energy
00:26:35improve in terms of crossings? Syria
00:26:38has made
00:26:42this requires practical action, Dr. Firas.
00:26:45We must note here that there are indeed
00:26:49changes happening in Syria on all
00:26:52levels. Recently, or today,
00:26:55there was a report or
00:26:59a statement issued by the Syrian
00:27:03Grain Corporation, for example, saying that it has
00:27:06achieved self-sufficiency in wheat.
00:27:09Therefore, this is considered one of the types
00:27:13and angles of improvement
00:27:15in the Syrian situation. Also, on the topic
00:27:19of salaries, there have been increases.
00:27:23As for oil
00:27:26and energy, as I mentioned and you elaborated,
00:27:30most of the fields
00:27:33have been returned to the Syrian government
00:27:36and are managed by the Syrian Petroleum
00:27:40production and so on. And it also definitely
00:27:44improves and provides more job
00:27:48opportunities. Therefore, there is
00:27:51somewhat of a balance to a large extent
00:27:54between what the report says and what
00:27:58is happening on the ground. What do you think? Yes.
00:28:02Yes. I mean, anyone who follows the Syrian economy and the Syrian situation
00:28:05fully realizes that the Syrian economy
00:28:08is improving and moving with accelerated steps towards the better.
00:28:12However, the question is, does the citizen
00:28:16feel this improvement, given that the citizen lives in this environment, he does not feel this improvement
00:28:22truly be aware of directing growth rates
00:28:25in a way that the citizen feels it. I mean, today, when
00:28:29the state's production
00:28:32of gas and oil increases, the citizen may not immediately feel this. He
00:28:36feels the services provided by the state. Today, when
00:28:39the state's production
00:28:44immediately feel this. He feels the services that
00:28:47the state provides. He feels
00:28:50a decrease in unemployment, which is comprehensive for all sectors of the state and not a focus
00:28:54on one sector over another. Because focusing on one of the sectors
00:28:57will contribute to a significant increase in the average rate, because Syria today, according to
00:29:01various estimates, needs approximately 280 to 300
00:29:05billion dollars, which is a very large number. Therefore, it is fertile ground
00:29:08for investments in any sector, and any investment in any sector may significantly increase growth rates.
00:29:12Therefore, growth rates must be balanced
00:29:16and equal across all sectors of the state on
00:29:20one level, so that we all feel it, and the citizen feels it, and the
00:29:24visitor and tourist feel that there is truly a qualitative leap.
00:29:27Also, the report mentioned a very important issue, which is
00:29:31revitalizing the banking sector and restoring and strengthening the role
00:29:34of banks, which was somewhat absent in recent periods from the Syrian economy,
00:29:38and strengthening the issue of combating terrorism
00:29:41and money laundering fundamentally, which is indeed something
00:29:45we need in Syria today. The banking sector is still
00:29:48in a coma until now.
00:29:52This sector has not yet been activated. Today, we are entering a reconstruction phase
00:29:56and need banking institutions to lead this phase through
00:29:59loans, investments, and support for projects. We truly need
00:30:03these financial institutions that contribute somewhat to
00:30:06pushing the wheel of the economy
00:30:09and supporting the recovery phase fundamentally, which is an important
00:30:12matter at this stage. God willing. God willing. Allow
00:30:16me to return to you, Professor Saud. Finally, in your opinion, what is
00:30:19the technical support that Syria
00:30:23truly needs from
00:30:28the World Bank to further advance
00:30:32the Syrian economic reality?
00:30:35In my estimation, what Syria needs primarily
00:30:38and most importantly for me,