Driven by Lifting Sanctions, Syria Expects 10% Growth in 2026
Syria's finance minister forecasts a 10% economic growth in 2026, driven by eased U.S. sanctions and improving stability after over a decade of conflict.
Syrian Finance Minister Muhammad Yasar Barniah announced that the Syrian economy expects to grow by approximately 10% in 2026, largely due to the recent easing of U.S. sanctions. This economic outlook is optimistic, with Barniah highlighting a renewed momentum as the country gradually recovers from more than ten years of civil war. In an interview, he pointed to the substantial improvements in stability across Syria and the crucial shift in U.S. policy towards sanctions against Damascus, which have been a major obstacle for the nation's economy.
The minister also noted the gradual return of skilled Syrians who had previously fled the country during the conflict. Many of these returnees are investors, entrepreneurs, and intellectuals, which Barniah believes will create significant opportunities for economic growth. He expressed a high level of optimism about the economic prospects in the coming years, citing that the country's economy had already shown a notable recovery by registering a 5% growth recently, after experiencing a 1.5% contraction in GDP in 2024 according to World Bank statistics.
Reconstruction of Syria, home to around 25 million citizens, is a significant task that remains ahead. The successful rebuilding of the war-torn nation would require substantial investment and support, and easing sanctions could facilitate this process. With improved conditions and the return of its skilled workforce, Syria aims to stabilize its economy further and build a sustainable future following years of hardship.