Damascus: the budget of 2001 will be decided before the end of 2000

Syria's deputy minister of state for planning Adnan Suleiman has expected the budget of the year 2001 will be completed before the beginning of the first month of next year, to be the first time in Syria's history in which three budgets are completed in the same year.

A matter which reveals a real desire in the current Syrian government to push up economic growth in the country and to get rid of recession.

The new budget will concentrate on developing the sectors of transport and energy, and reducing the shares of internal and external trade in this budget.

Suleiman added " this shows a real intention in the current government to eliminate the shortcomings of the past and economic recession as well as to boost economic growth."

Suleiman, whose ministry is preparing the investment side of the budget noted " the rate of expected increase in the investment budget for the year 2001 over the figures of the year 2000 might exceed 20%, while the budget of the year 2000 only exceeded the one preceded it by 9%." Worthy mentioning the total budget for the year 2000 was 275 billion Syrian pounds, of which the investment side reached 131 billion Syrian pounds.

He said that the government's policy inclines towards that the sector of transport and communications will occupy the first grade because of an ambitious plan at the railway general establishment in order to develop the transport sector. Its allocations from the state's general budget is estimated at 24%. After that comes the sectors of electricity and waters at a rate of 19%, so as to meet the increasing demands for electricity, he added, and "then follows the sector of services which includes the activities of the establishments of waters, drainage and local administration with allocations estimated at 16% of the budget."

He continued this also indicates the " efforts to complete the drainage system project, develop the building of hospitals and schools and to increase their number to cope with the population growth" noting that this sector wins 14% of the budget's total allocations. " Suleiman said the Converting Industries sector has allocations estimated at 10%."

Meantime, on November 9 and 10 the first Arab- International conference will be held in Damascus on issues dealing with investment under the name " Syria's gathering on investment."

The Conference will be held under the patronage of President Bashar al-Assad. It will be attended by high ranking Syrian officials.