The new government is moving rapidly to attract international trade and investment after the USA raised penalties last month.
Syria will return the Swift International Payment System connection for weeks. This will be the first serious step of the new government on the way to the country’s return to the global economy after a long war and international separation. It reports about it Financial periods.
The decision became possible after the lifting of the United States penalties last month. The new leadership actively introduces economic reforms, trying to attract foreign investment and restore financial infrastructure.
In an interview with Damascus, central bank leader Abdulkader Khusriya drafted measures to restore the financial system and stabilize the economy, which received a destructive blow during the war years.
“We are striving to strengthen the country’s brand as a financial hub, given the expected direct investment in foreigners in restoration and infrastructure – this is critical,” Husrie said. – “Despite significant development, there is still a lot of work ahead.”
After the collapse of the Bashar al-Assad regime, the power was taken by Ahmed Al-Sharaa’s temporary government. The new leadership expresses transparency, market openness and the abandonment of the Assad control model.
Despite the doubts about the abstent’s abilities of public administration, a few weeks later the government announced a number of reforms, including the banking sector. They are designed to regain the trust of investors, including the Syrian diaspora.
The temporary ash-saraya president has enrolled the support of many leaders in the world. Last month, he won an important success – US President Donald Trump unexpectedly removed sanctions against Syria.
However, Husrie believes that these steps are not enough.
“We need a complete political change. So far, we have only seen the issuance of individual licenses and selective relief of penalties. The implementation must be comprehensive, and not damaged.”
Currently, Husrie and the Ministry of Finance develop a plan for economic stabilization for the next 6-12 months. It contains the renewal of banking law, the Central Bank’s reform, the social protection system and housing lending.
The banking sector should be a major recovery machine. It was destroyed not only in the years of war, but also in the financial crisis in Lebanon and the policy of the previous regime.
Earlier, Kaya Kallas reported that the European Union had decided to cancel economic penalties against Syria. And later, the European Union officially removed all economic restrictions in Syria, except for those based on security issues.
Remember that Saudi Arabia and Qatar pay 15.5 million dollars of Syria’s debt.
Trump announced that he can cancel the penalties of us against Syria
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.