After years of conflict, Syria faces monumental economic challenges that experts say can be alleviated through international support and sanctions relief.
Reconstruction in Post-Assad Syria: The Need for Sanctions Relief
Reconstruction in Post-Assad Syria: The Need for Sanctions Relief
As Syria emerges from a brutal civil war, experts argue that lifting Western sanctions is crucial to revitalize the war-torn economy.
Despite the rapid collapse of Bashar al-Assad's regime, the task of rebuilding Syria's shattered economy is daunting. Over the course of nearly 14 years of war and repression, the country has seen a catastrophic decline in infrastructure, with oil production, agriculture, and public services reduced to near collapse. A staggering 90% of the Syrian population now lives in poverty, contributing to a dire humanitarian situation. The plummeting value of the Syrian pound coupled with near-empty foreign reserves exacerbates the crisis, impacting the availability of food, fuel, and medical supplies.
Historically, oil accounted for two-thirds of Syria's exports, while agriculture constituted about 25% of its economic activities. In the current landscape, however, illicit trade, particularly in captagon—an addictive drug controlled by powerful political figures—has become one of the nation’s few profitable ventures. According to Syrian economist Samir Aita, the country's economic framework has disintegrated entirely.
With the opposition coalition now in control, Ahmed al-Shara faces the massive challenge of uniting fragmented rebel factions, re-establishing governmental authority, and restoring basic services like water distribution. Yet, amidst these obstacles, the consensus among analysts is clear: the pivotal factor for any economic revival relies on the United States' willingness to reconsider its sanctions on Syria. Such sanctions have effectively isolated the nation from vital international trade and investment, hindering recovery efforts.
In sum, the way forward for Syria's economy hinges on both internal governance reform and external support, primarily through the lifting of sanctions that have long stifled growth and recovery.
Historically, oil accounted for two-thirds of Syria's exports, while agriculture constituted about 25% of its economic activities. In the current landscape, however, illicit trade, particularly in captagon—an addictive drug controlled by powerful political figures—has become one of the nation’s few profitable ventures. According to Syrian economist Samir Aita, the country's economic framework has disintegrated entirely.
With the opposition coalition now in control, Ahmed al-Shara faces the massive challenge of uniting fragmented rebel factions, re-establishing governmental authority, and restoring basic services like water distribution. Yet, amidst these obstacles, the consensus among analysts is clear: the pivotal factor for any economic revival relies on the United States' willingness to reconsider its sanctions on Syria. Such sanctions have effectively isolated the nation from vital international trade and investment, hindering recovery efforts.
In sum, the way forward for Syria's economy hinges on both internal governance reform and external support, primarily through the lifting of sanctions that have long stifled growth and recovery.
