Economic growth is less than population growth in Syria

A study prepared and submitted by Syrian businessmen for the Syrian government, through the Damascus Chamber of Industry said that average economic growth in Syria during the period from 1985 until 1996 was almost 2.11% annually, whereas the population growth for the same period was estimated at 3.4%.

The study indicated that despite the release of law no. 10, which targeted to encourage investment since 1991, the total investments in 1996 were less than in 1985, whereas total investments in the GNP declined from 38.03 percent to 25.55 percent in the year 1996.

The study, which was entitled "Economic Recession," said that dealing with this "recession" requires an integrated economic strategic formulation in Syria, noting the great increase in the averages of customs fees, taxes and extra fees on the industrial sector upon importing the raw materials and the exportation of production.

The study called for developing the enacted laws and texts in the framework of business, investment and industry and urged the provision of banking supplies for industrialists as well as to exert necessary efforts to solve the perpetuated problem of unemployment in the country.