Al-Assad issued budget law for fiscal year 2001

Syrian President Bashar al-Assad on Tuesday issued Law no. 20 for the year 2000 which included the state's general budget for the fiscal year 2001, which was earlier approved by the Syrian people's Assembly ( parliament) on its Monday's meeting.

The issued law fixed the credits of the state budget at a sum of 322 billion Syrian pounds.

The said law provides for releasing budgets of the country's economic establishments, the construction companies, the local administration units, the Islamic trust departments and the public works, according to valid legal rules while the budgets of the economic establishments and the construction companies are released by the Finance Ministry following the issuance of the Law.

Projected expenditures in the budget, covering the fiscal year starting January 2001, were set at 322 billion Syrian pounds.

Syrian finance minister had said earlier that 37.32 billion Syrian pounds were allocated to cover payments of foreign debates and to help preserve local prices at their current levels.

The budget included allocations to finance new projects and projects under construction covering electricity, irrigation, agricultural and petroleum areas.

The budget will also help the Syrian government to continue economic reforms and boost private sector.