The International Monetary Fund (IMF) painted an optimistic picture of the future of the Syrian economy, confirming the emergence of tangible signs of economic recovery and projecting promising growth prospects by 2026. This assessment comes amidst structural transformations in the country's fiscal policy and institutions.
Preliminary IMF data revealed a positive development in public finances, with the Syrian government's budget managing to conclude the 2025 fiscal year with a "small surplus." This surplus is a vital indicator of the success of policies aimed at controlling spending and boosting domestic revenues, thus reducing reliance on deficit financing.
As part of its ongoing dialogue, the IMF announced an agreement with the Syrian authorities to launch a comprehensive technical assistance program. This program aims to:
- Rehabilitate key economic institutions.
- Develop technical expertise in the financial and monetary sectors.
- Improve the quality of statistical data and transparency in public administration.
The IMF report emphasized that sustaining the recovery requires continued efforts along two parallel tracks:
- Strengthening the social safety net to protect the most vulnerable groups and ensure that support reaches those who need it most. - Improving transparency: Raising the efficiency of public spending and ensuring that resources are directed towards priority development projects.
"The Syrian authorities' ability to attract external financing in the coming period will remain closely linked to progress in addressing the accumulated debt." — Excerpt from the IMF report
A call for international support
The IMF concluded its assessment by emphasizing that Syria still needs strong and sustained international support in the coming years to bolster reconstruction efforts and achieve comprehensive economic stability, considering the success of the Syrian experience a cornerstone for the region's economic stability.
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