Syria: al- Refae assumes his post as minister of economy

The new Syrian minister of the economy Ghassan al-Refae on Monday assumed his post with promises to improve the national economy, save job opportunities, support the private sector and achieve a breakthrough in the work of banks.

The Syrian state run al-Baath daily said in its Monday's issue that the new minister arrived on Sunday evening to the country after he had completed his work at the World Bank as a main advisor for the Bank for the Middle East and North Africa for 30 years.

Al-Refae said that among his priorities is to achieve a "tangible growth" in the national economy in order to "absorb the labor force among the youths." And this can be achieved through giving the chance for the private sector to move besides the need to "revitalize the laws pertinent to the private and joint banks."

The new minister said that his being late to assuming his post was a result of having tasks he has to hand over for his successor at the World bank. The new minister was welcomed at the Damascus airport by the former Syrian minister of the economy Muhammad al-Imadi.

Al-Refae replaced al-Imadi in the recent Syrian government which was formed by the end of 2001.