The economy more than halved between 2010 and 2021, official Syrian data cited by the World Bank in spring 2024 showed. World Bank data estimated Syria's economy was $23.63 billion in 2022 - roughly on par with Albania and Armenia, which each have fewer than three million inhabitants. Following the new rulers' takeover in December, the central bank pledged to adopt an official unified exchange rate. Despite the central bank sanctions, Western governments allowed Syria to use frozen funds for humanitarian purposes, such as medicine and food. Dwindling oil and tourism revenues decimated Syria's exports from $18.4 billion in 2010 to $1.8 billion in 2021, according to the World Bank.

Source: bd News24 January 06, 2025 17:21 UTC