IMF is signaling a recovery in the Syrian economy.

IMF Reveals Assessments on the Syrian Economy

The International Monetary Fund (IMF) visited Damascus from November 10-13 to analyze the economic situation in Syria. During this visit, the IMF delegation discussed economic reform and capacity-building priorities with the Syrian government.

In its statement, the IMF noted that a comprehensive work program for the future had been agreed upon, emphasizing that the Syrian economy is showing signs of recovery. "Despite facing numerous challenges, authorities have taken strong fiscal and monetary stances to ensure economic and financial stability," it said.

Signs of Recovery Strengthening

Ron van Rooden, who led the IMF delegation, stated that consumer and investor confidence has increased during Syria's new governance period, and that with the lifting of sanctions, the country has reintegrated into the regional and global economy. He also added that the return of over one million refugees has strengthened the signals of recovery in the Syrian economy.

Van Rooden mentioned that the financial discussions are focused on preparing the 2026 budget, emphasizing that the budget aims to create fiscal space to support the most vulnerable sectors within social sectors. He stated that income and financing assumptions have been developed in an ambitious yet realistic manner.

The IMF's comprehensive technical support is expected to contribute to the improvement of public financial management and revenue administration, and to enable the development of a strategy for Syria’s old debts through new tax legislation.

However, van Rooden noted that discussions have also begun to establish a suitable monetary policy framework to support low and stable inflation, considering the existing financial challenges.