Syrië 

Syrië landenbeleid

Beleid vastgesteld op 01 mei 2012

• Geen dekking

Landenklasse: 7

Syrië landenrapport

Atradius Dutch State Business Economic Research

Country Report last updated January 26th, 2012

Country: SYRIA 
 

Political Situation

                                                                
Very Unstable: On The Brink Of Civil War

Head of state
President Bashar al-Assad, elected by referendum in 2000 after the death of his father Hafiz al-Assad; re-elected in 2007.  

Form of government
Legislative power is held by 250-member People's Council, elected for a 4-year term. Of the 250 seats 167 seats are reserved for the National Progressive Front which is headed by the Arab Nationalist Baath-party (134 seats). 
 
Internal Economic Situation
Badly Hit By The Political Unrest

General situation
The uprising has taken a heavy toll on the economy: real GDP declined by 3.4% in 2011 and is set to shrink by another 7% this year. (Oil) exports, FDI, tourism and business activities have been severely hurt. Only agriculture has shown recovery despite a chronic shortage of water. Import restrictions and sanctions have fueled inflation to appr. >9% in 2012. The banking sector has been hurt by capital flight from private sector banks and the imposition of international sanctions on the larger state banks. High corruption: 127th out of 178 in the TI-Index.  
                                                                        
 
External Economic Situation
Strongly Deteriorated

Main sources of foreign exchange
Oil (34%), textiles (11%), cotton (6%), phosphates; tourism receipts (increasing).

Main foreign markets
Iraq (31%), EU, Lebanon.

Main expenses of foreign exchange
Metal products (15%), fuels (14%).
 

Balance of payments 
Risen trade/current account deficits are reflecting the impact of the political unrest and the subsequent embargos. So far financial support from Arab countries was used to cover the deficits but these inflows have dwindled; subsequently the finance gaps have caused a fall in reserves. Although the Central Bank has stopped all foreign transactions in US$ and curbed imports, the black market exchange rate of the Syr Pound has fallen by 15%.