Airstrikes, allegedly from Russian Planes, Destroy Two of Syria’s Most Prominent Industrial Concerns
Airstrikes in northern Syria, allegedly from Russian airplanes, have destroyed the factories of two of Syria’s most prominent industrial concerns.
Based on the numbers prepared by the Government, Syria’s deficit should represent around a third of the total budget next year.
Statements by the Syrian Minister of Labour indicate that today up to half of all working age Syrians are employed by the Syrian Government.
Syria’s tax revenues have increased markedly in the first half of this year, according to the Ministry of Finance.
Estimates and projections on Syria’s economic performance remain as difficult as ever to make as shown in two recent global publications.
Revenues generated from customs fees and taxes this year will be higher than in 2014 in nominal terms and continue to represent an important source of income for the Syrian Treasury.
The Syrian Government has managed to raise significant foreign currency revenues from the increase in passport fees decided six months ago.
The Syrian Government has sent to Parliament the draft text of next year’s budget, which will be overwhelmingly used to cover current expenses.
The European Union has expanded the criteria for blacklisting individuals and companies in its sanctions regime against the Syrian authorities in a bid to include more businesspersons and prevent sanctions circumvention.
Only weeks after it increased the salaries of civil servants, the Government is raising the price of various products and doubling income tax rates on salaries.
The Syrian government has increased the cost of tap water and is reportedly planning to reduce subsidies on bread.
Syria’s draft budget for 2016 plans a 27.4 percent increase in Syrian Pound terms.
Official data confirm an increase in business activity in the coastal province of Tartous, a regime stronghold that has seen an influx of hundreds of thousands of people in the last three years.
A decree issued by the Syrian President on Eid Al-Adha has increased the monthly salary of all civil servants and armed forces members by 2,500 Syrian pounds.
The UAE welcomed more than 100 thousand Syrians since the beginning of the uprising in 2011, the Government said in response to strong criticism of its policy towards Syrian refugees.
2nd International Finance Markets Investment Forum 2011
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