Syria's economy expected to have 4.5% growth
Syria, Economics, 12/28/2005

The Syrian economy was capable to achieve an increase in the growth and to improve performance despite of circumstances and pressures Syria is exposed to, Prime Minister Mohammed Naji Ottri told a meeting of the National Progressive Front leadership branches as well political leaderships.

The Premier noted the government has worked to achieve total economic stability and to follow up the economic and administrative reform process saying the national economy in spite of circumstances and pressures Syria is exposed to was capable of making an increase in growth and improving performance.

He said it is expected that the Gross Domestic Production GDP will be this year S. P.1085 Billion with the fixed year 2000 pound level, which means a mounting of 4.5 % in comparison with 2004.

Premier Ottri said the government aim in the upcoming five years is to cut the spending balance deficit as not to exceed 6.6 % of the GDP in 2010 as well to increase non-oil exports as to constitute at the end of fifth five-year plan a 15.9 % of the GDP.

He noted that among priorities of the short-run economic reform program was the fulfillment of a quick move in the finance politics and regulations as well to building of the finance and banking infrastructure in addition to boost and clarify role and independence of the Central Bank, and to put a law defining the main structure of the banking organization.

He noted that the government translated decisions and recommendations of the tenth regional congress by preparing the tenth five-year plan, which it adopted and was distinguished with following the inclination of planning and sharing in wording the goals, policies and strategies of sustainable development and widening the role of local administrative parties as well the national private sector.

Ottri noted that the atmosphere of investment in Syria and procedures taken by the government, which have encouraged and attracted local, Arab and foreign investments caused an increase in projects included in the law of investment number 10.

He pointed out the general leaning of the government next year would be to create poles of growth in the northeast central, southern and coastal regions as well to consider 2006 a year for a lunch in tourism investment and a change into non oil exports to raise the income level and cut unemployment.

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