A Foreseeable Revival of the Syrian Economy

The Syrian economy is  expectedto re-bound  from the devastating impact of the war of aggression immorally waged on the countrywith signs of revival and re-growth are showing up for the first time now.

The good signs of an imminent revival are   mainly attributed to the following factors:

  • The military gains attained by the Syrian Arab Army in Palmyra and its  vicinity are being translated into rewarding geo-economic gains: The restoration of oil and gas fields and securing them against the  threats of ISIS, allows for  the resumption of  production at these  newly restored sites and would subsequently allow for the resumption of  gas and electricity supplies to  factories and  other highly-productive facilities in the country.

  • A new bouquet of business-friendly and production-inducing legislations are now in the making to encourage Syrian businessmen and industrialists return to their country and re-operatetheir

A host of decrees and executive orders are expected to be issued by the government in the near future  tohelp businessmen and industrialists  re-run their  facilities. So, production would re-grow,  job opportunities would be created and the  purchase power of the Syrian citizens would improve.

  • Hence came the particular significance of the liberation of Aleppo and Damascus countryside,  the two main hubs of Syrian industry.

  • Equally significant was the restoration of control over all commercial routes in the Syrian Desert (al-Badiayah). This latest development has promoted Jordan to solicit the Syrian Government with a request to re-assume control over the two border crossing points of  At Tanf and Nassib.Syria’s  recent  regaining of control over a  border-crossing with Iraq would open the way for commercial caravans to return to Syria and for the  merchandise movement between Syria and Iraq to be actively resumed. Such an active business would surely generate an  active circulation of  hard currency that would be pumped into the local market.

  • Moreover, the control of the Euphrates River Dam  would  allow for the resumption of power generation operations, providing thereby an excess  of electricity  as well as enough water to  irrigate  vast areas of agricultural lands.

  • Regaining control over the Aleppo-Hassakah highway would provide the necessary safe route to re-link wheat and grains-producing areas with export terminals. This would give a boost to  wheat  and grains production so that Syria would not only be self-sufficient and in no need of importing this basic commodity, but rather would be able to export the excess of its production. In other words, the boost in wheat production would  turn Syria  from an importer into an exporter. All of these significant gains would replenish the  public treasury with hard currency and would automatically  improve the Syrian exchange rate.

Source: al-Mayadeen.

 

 

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