Economy
From The Report: Syria 2026
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Syria entered 2026 in a markedly improved economic position from the final years of conflict, with the post-transition period opening space for sanctions relief, renewed donor and investor engagement, financial reintegration and the gradual restoration of public services. However, the recovery remains at an early and uneven stage. Economic conditions showed tentative signs of stabilisation in 2025 as inflation moderated and economic growth prospects improved. However, macroeconomic pressures persist, including exchange rate imbalances and renewed inflationary pressures, while the country’s substantial reconstruction needs continue to shape the broader economic outlook. Diaspora financing is expected to play a role in recovery.

This chapter includes insights from Mohammed Al Shaar, Mohamed Haykal, Ahmad Jamal Zidan and Kinda Chebib.

Articles from this Chapter

Overview

Recovery foundations: Institutional reform, reconstruction and renewed investment are laying the groundwork for long-term economic improvement
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Syria entered 2026 in a markedly improved economic position from the final years of conflict, with the post-transition period opening space for sanctions relief, renewed donor and investor engagement, financial reintegration and the gradual restoration of public services. However, the recovery remains at an early and uneven stage. Economic conditions showed tentative signs of stabilisation in 2025 as inflation moderated and economic growth prospects improved. However, macroeconomic pressures persist,…

Interview

Financial reintegration: Mohammed Al Shaar, Minister of Economy and Industry, on balancing financial recovery with new production models
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Interview: Mohammed Al Shaar, Minister of Economy and Industry, on balancing financial recovery with new production models By what means should the country balance the restoration of pre-war industries with the development of new areas of economic activity? MOHAMMED AL SHAAR: Reconstruction cannot be limited to restoring the production systems that existed before the conflict. Syria has missed approximately 15 years of technological development and many factories, tools and operating models are…

Interview

Opportunity rising: Mohamed Haykal, Chairman, Haykal Group, on navigating an economic reawakening and emerging potential
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Interview: Mohamed Haykal, Chairman of Haykal Group, on navigating an economic reawakening and emerging potential What makes this reconstruction period an especially important moment for economic and social development in Syria? MOHAMED HAYKAL: As Syria emerges from a long period of dictatorship and lawlessness to rejoin the free world, it is undergoing a profound transformation. I have returned many times since what most Syrians refer to as the liberation. During these visits, I have had the opportunity…

Interview

Accelerating reintegration: Ahmad Jamal Zidan, General Manager, Arab Bank Syria, on adopting policies centred on stability and economic recovery
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Interview: Ahmad Jamal Zidan, General Manager, Arab Bank Syria, on adopting policies centred on stability and economic recovery How will banks recalibrate foreign exchange (FX) pricing and liquidity management after the pound partially retracted from its April 2025 peak? AHMAD JAMAL ZIDAN: The FX market is clearly shifting towards more market-driven pricing. Banks have already begun adapting their models to reflect real supply and demand dynamics rather than relying solely on administered rates.…

Viewpoint

Capital for recovery: Kinda Chebib, Director, Syria Reconstruction & Investment Advisory, on how investor interest is translating into substantial commitments across sectors
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Syria has entered a new phase of international economic re-engagement and early recovery. The defining challenge is now to convert the political momentum achieved since 2024 into investment-ready projects capable of delivering long-term economic value. The opportunity is considerable. The World Bank estimates the cost of reconstructing Syria’s damaged assets at $216bn, including $82bn for infrastructure, nearly 10 times the country’s projected 2024 GDP. At the same time, the UN Development Programme…

Analysis

Digital pathways: Food delivery companies are creating channels for commerce and supporting the development of the service economy
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Food-delivery platforms have evolved internationally from simple ordering services into integrated digital ecosystems connecting consumers, merchants, couriers, payment providers and logistics networks. Their expansion depends on factors including digital connectivity, consumer adoption, operational efficiency and the ability to coordinate multiple stakeholders. In Syria, the development of such platforms reflects broader efforts to rebuild commercial links improve market access for businesses and support the gradual emergence of new consumer services. Digital Evolution This transition is taking place against a challenging economic backdrop.…