Subjects – Syria Report



The balance sheet of Syrian private sector banks grew last year, as deposits by public sector entities surged, according to official financial reports by the banks. The influence of the presidential palace can be seen in the large lending portfolio of two banks.
The World Bank released on June 09 its first comprehensive report in years on the state of the Syrian economy. The report uses innovative remote-based data to measure some key indicators, such as nighttime lights and nighttime lights-based output estimates, shipping-position data, and population and conflict maps. Some of the findings raise questions, however, while the report lacks any political economy dimension. Unsurprisingly, the forecasts for the coming years are gloomy.


This chart provides an overview of Syria’s GDP from 2000 to 2021. In the years that preceded the conflict, the economy witnessed significant growth rates. However, in 2012 and 2013, the country's GDP fell by 26.3 percent per year, according to the World Bank, and had only grown by 2.85 percent in 2011 – its lowest figure since 2001.
This report is the first part of a two-part publication that will provide an overview of Syria’s relations with former Soviet Republics. This first part will address Syria’s ties with the Baltic states (Estonia, Latvia, Lithuania) and Eastern Europe (Belarus, Ukraine, Moldova), while the second will focus on Syria's ties with the Caucasus (Armenia, Azerbaijan, Georgia) and Central Asian countries (Kyrgyzstan, Turkmenistan, Uzbekistan, Kazakhstan, Tajikistan).