**Submission statement:** This news, while slightly late (it was originally published on December 5th), shows the progress of the initial recovery of the Syrian economy that was expected for 2025, the first full year after the fall of Bashar al-Assad’s regime. Since December 2024, the de facto leader and then president of Syria al-Sharaa (since January 2025) and his team have implemented numerous political, economic and social reforms widely portrayed as forward-looking, and engaged in so far relatively successful outreach campaigns with the US and other powers to normalize relations with the outside world and provide a much-needed economic boost to Syria, after it collapsed during the war there.
While Ahmed al-Sharaa continues to face problems like poverty and inability so far to regain control over the entire country due to persistence of various actors that intervened in the Syrian Civil War since 2011 (including foreign states and remnants of Assad loyalists), many hope the new President of Syria has genuinely renounced his former jihadist views, especially as he’s signed an interim constitution that established a five-year transition period, and announced the formation of a transitional government.
Victories and reforms include the lifting of EU and particularly US sanctions (the so-called Caesar sanctions were also lifted yesterday, December 19th), the return of wartime refugees, a decline in inflation, discussions with IMF to improve the country’s economic data reporting, the investment benefits of combating money laundering and the financing of terrorism, the launch of a new currency, a reduction in the central bank’s influence over government spending after 7 decades of just that, and the development of agreements with Visa and Mastercard to create a digital payments ecosystem in Syria.
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I have a feeling that, should reforms, inward migration and relative peace continue we’re going to see rapid growth out of Syria. And if it is the case, good for them. They’ve more than earned a chance for peace and prosperity.
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**Submission statement:** This news, while slightly late (it was originally published on December 5th), shows the progress of the initial recovery of the Syrian economy that was expected for 2025, the first full year after the fall of Bashar al-Assad’s regime. Since December 2024, the de facto leader and then president of Syria al-Sharaa (since January 2025) and his team have implemented numerous political, economic and social reforms widely portrayed as forward-looking, and engaged in so far relatively successful outreach campaigns with the US and other powers to normalize relations with the outside world and provide a much-needed economic boost to Syria, after it collapsed during the war there.
While Ahmed al-Sharaa continues to face problems like poverty and inability so far to regain control over the entire country due to persistence of various actors that intervened in the Syrian Civil War since 2011 (including foreign states and remnants of Assad loyalists), many hope the new President of Syria has genuinely renounced his former jihadist views, especially as he’s signed an interim constitution that established a five-year transition period, and announced the formation of a transitional government.
Victories and reforms include the lifting of EU and particularly US sanctions (the so-called Caesar sanctions were also lifted yesterday, December 19th), the return of wartime refugees, a decline in inflation, discussions with IMF to improve the country’s economic data reporting, the investment benefits of combating money laundering and the financing of terrorism, the launch of a new currency, a reduction in the central bank’s influence over government spending after 7 decades of just that, and the development of agreements with Visa and Mastercard to create a digital payments ecosystem in Syria.
I have a feeling that, should reforms, inward migration and relative peace continue we’re going to see rapid growth out of Syria. And if it is the case, good for them. They’ve more than earned a chance for peace and prosperity.