Despite Syrian President Bashar Assad's ouster last month in a lightning insurgency, the country’s dire economic conditions haven't changed. With no sign of a full-scale withdrawal of international sanctions and continuing caution among potential overseas investors, the honeymoon period for the country’s new rulers could be short-lived.
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The economy has been battered by corruption and 13 years of civil war. Coupled with international sanctions and mismanagement, inflation skyrocketed, pulling some 90% of the country into poverty. Over half the population -- some 12 million people --no sign of a full-scale withdrawal of international sanctions
The United Nations in 2017 estimated that it would cost at least $250 billion to rebuild Syria. Some experts now say that number could reach at least $400 billion.with Syria’s new interim rulers, while Washington has eased some restrictions without fully lifting its sanctions. The U.S. Treasury Department issued a six-month license authorizing some transactions with Syria’s interim government. While it includes some energy sales, Syrians say it isn’t enough.
“Without jobs, without huge flows of money and investments … these families have no way of making ends meet,” Hatahet said. People stop to smell the aromatic and colorful spices or pose for photos next to masked fighters from the ruling Hayat Tahrir al-Sham group guarding the market’s entrances.
Syria Damascus Cindy Mccain Syria Government Sanctions And Embargoes General News Corruption World News Economy Poverty Business Rebellions And Uprisings Samir Al-Baghdad Walid Naoura Politics United Nations
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