On rebuilding trust, driving reform and fostering growth
How much has the Ministry of Finance changed since your arrival earlier in 2025?
MOHAMMED YISR BARNIEH: We are committed to rebuilding trust between the ministry, the private sector and society. When I arrived, we faced a deteriorating financial environment, weak institutions and a system of corruption and bureaucracy. My first initiative was to visit chambers of commerce and industry – something no finance minister had done before. By listening to their concerns and involving them in policymaking, we began rebuilding confidence. In every committee and working group we now include representatives from the business community and civil society. All new laws and decrees are shared for consultation to foster participation.
We are eliminating oppressive practices. Tens of thousands of citizens have had their frozen assets released and properties returned. We are also studying compensation mechanisms. Internally, we are restructuring and modernising the ministry. Our goal is to balance revenue generation with support for investment and growth. Our motto is simple: to transform the Ministry from one of collection and control into a ministry of development, partnership, and progress.
What are the biggest challenges and how do you assess Syria’s prospects for economic revival?
BARNIEH: We have begun a comprehensive reform of wages and salaries, starting with targeted raises for key sectors such as the judiciary, education and health. This will improve living standards, enhance services and reduce corruption. We are implementing a modern, transparent tax system. The 2026 government budget will reflect our developmental priorities rather than focus solely on fiscal balance. We are advancing digital change through e-government systems to simplify procedures, improve transparency and fight corruption.
Another major initiative is the National Strategy for Poverty Reduction, developed with the Ministry of Social Affairs and Labour. We are also modernising the financial sector – reforming public banks, promoting financial technology and strengthening the integrity and efficiency of financial transactions.
Key priorities also include resolving outstanding public debt, restoring fiscal credibility, and mobilising resources for reconstruction. Rebuilding schools, hospitals, and infrastructure, and facilitating the return of displaced citizens, will require strong partnerships with both domestic and diaspora investors.
The main engines of growth will be energy, infra-structure, housing, tourism and agriculture. The first two, energy and infrastructure, need major investment, while tourism offers vast untapped potential, with over 10,000 archaeological sites and rich cultural diversity. Agriculture and light manufacturing, especially textiles, are strategic, supported by new incentives for investment. We are also prioritising education, health care, vocational training, digital transformation, and the rebuilding of cultural institutions and civil society.
What is the ministry’s driving philosophy?
BARNIEH: Our vision is to move from pressure and collection to partnership and development. I see myself as a public servant working for every factory, company and entrepreneur. We have deep trust in the private sector. Our role is to create the conditions for business to thrive – because when the private sector grows, jobs are created, production rises and public revenue increase. We have reduced taxes and embraced principles of simplification, fairness and transparency.
Syria is a land of opportunity. Yes, challenges remain but our determination is stronger. Encouraging and protecting investment, simplifying procedures and creating incentives are top national priorities. The situation is not yet perfect, but I urge investors not to wait for perfection – by then, the best opportunities will have passed. Syria is moving steadily towards stability, development and prosperity, and we welcome every new investor who wishes to join our success story.
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