The Syrian delegation at the COP28 in Dubai has blamed international sanctions, opposition groups, the U.S., Turkey, and Israel for aggravating the climate crisis in Syria, while deflecting any governmental responsibility in Syria’s climate emergency. At the annual Conference of Parties, private entities and governments tend to make pledges to help developing countries face the climate crisis, but so far, Damascus' search for international climate finance seems to have fallen flat this year.
Syria recorded an annual inflation rate of 84.9 percent in 2022, compared to an average of 5.1 percent in the rest of Arab countries and 8.5 percent recorded globally, according to the Annual Bulletin of the Syrian Centre for Policy Research, published on October 12. The hike in prices of food and non-alcoholic beverages contributed to 41.3 percent of last year’s general inflation, followed by the housing, water, electricity and gas category, then transportation and health.
The Israeli retaliation after the Hamas’ attack on October 7 has led to violent echoes in the region: from deadly flare-ups in the Lebanese-Israeli border, exchange of fire in southern Syria, Israel’s airstrikes at Damascus and Aleppo airports, to U.S. bases in Syria and Iraq targeted in drone attacks by Iranian affiliated groups. The announced Israeli ground invasion of Gaza could be an important turning point with regards to regional escalation as Iran and Hezbollah made the potential invasion their main red line.
The Ministry of Finance's decision to withhold a SYP 562 billion loan to the General Establishment for Cotton Ginning and Marketing has led to acute delays in payments for cotton farmers.
The ongoing Turkish retaliatory attacks in northeast Syria have severely affected oil, water, electricity, education, and health infrastructure.
Turkish-backed northwest authorities will hold the ‘First Investment Conference in Northwest Syria' in the Al-Rai Industrial City in December to attract investments to the region.