Analysis by Region - Emerging Markets - Syrian Arab Republic
Political unrest, a crumbling currency, and a meagre 8.9% fully vaccinated population have served to reduce our outlook on the Syrian economy; as such, we are lowering our 2022 GDP forecast from 5.2% to 4.3%, and from 4.4% to 4.2% in 2023. Growth is being supported by rising oil prices, the removal of restrictions on local banks issuing loans and credit facilities, a full reopening of the border with Jordan boosting trade, and a gradual welcome of President Assad back into the fold by regional leaders, boosting opportunities for investment.
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