New York: According to Central Bank Governor AbdulKader Husrieh, Syria’s economy is expanding far more quickly than the World Bank’s 1% forecast for 2025, as refugees return following a 14-year civil war. This is driving plans for the country’s currency to be relaunched and initiatives to create a new financial hub in the Middle East.
Speaking via video link at a conference in New York, Husrieh also stated that the nation is collaborating with the International Monetary Fund to develop methods for precisely measuring economic statistics to reflect the recovery and that he welcomed an agreement with Visa to build digital payment systems.
The head of Syria’s central bank, who is assisting with the country’s reintegration into the international economy following the overthrow of Bashar Assad’s administration around a year ago, called the lifting of the US sanctions against Syria “a miracle.
On November 10, the US Treasury announced a 180-day extension of the suspension of the so-called Caesar sanctions against Syria; the US Congress must approve their complete lifting. Husrieh stated that he anticipates the restrictions being lifted by the end of 2025, marking “the last episode of the sanctions,” based on talks with US politicians.
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