Syrian economy suffers from debt and outdated laws

The Monte Carlo radio said on Wednesday that the Syrian economy suffers debts estimated at US $ 20 billion, mostly from countries of East Europe. It added that the Syrian economy also suffers several laws which economists view as contradictory and stopping the economic development.

The radio added that the banking system and the exchange rates do not encourage investors and suppliers to invest in Syria.

The radio remarked attempts to set up a new banking system to be one of the effective mechanism in the Syrian economy.

In the course of its economic program on Wednesday, the radio quoted Aref Dalila the economy teacher at Damascus university as saying that Syria needs some US $ 100 billion to find out work opportunities for three million Syrians by the fall of the year 2010. He explained that Syria's population will increase more 7 million within ten years.