Cabinet approves the budget for the year 2005

Syria's Cabinet approved on Sunday evening a S.P. 460 billion draft budget for the year 2005 compared with a S.P. 449,5 billion last year. S.P.280 billion were set for the current expenditures credit and S.P. 180 billion for investment process.

"The budget draft aims at achieving better proportionality between resources and expenditures in the budget, improving citizens living standard, rationing the current expenditures," the government financial statement said.

It added that the budget also is designed to putt an end to loses and increase average of local revenues particularly taxes.

The statement presented an analysis of the economic performance in 2004 including monetary, investment, banking, financial and taxes fields in addition to oil, energy, industry sectors and private sector of industry, health, tourism, agriculture and social services as well as infrastructure.

It also touched upon the government policies and procedures to develop the economic performance, financial and taxes legislations, enhance integration of the public and private sectors, improve investment atmosphere and increasing the domestic financial resources.