development association

Damascus, Aug. 10 (SANA)Finance Minister Mohammed YisrBarniehsaid Syria’s economy is expected to grow by 11.3% this year, with growth momentum projected to continue in the coming years, while production in several sectors is expected to return to pre-2011 levels by 2030. In an exclusive interview with SANA on Monday, Barnieh said budget revenues are expected to reach nearly $8 billion in 2026, adding that exceptional revenues will be directed toward investment projects in affected areas and sup…

Prime Minister Ali Faleh Al-Zaidi Hosts the Chairman and Members of the Parliamentary Finance Committee to Discuss Financial and Economic Policies ••••• Prime Minister Ali Faleh Al-Zaidi hosted today, Monday, the Chairman and members of the Parliamentary Finance Committee, in the presence of the Minister of Finance and the Governor of the Central Bank of Iraq, to discuss financial and economic plans and policies, as well as coordination between the executive and legislative authorities on priori…

Today in New Alamein City, President Abdel Fattah El-Sisi met with Prime Minister, Dr. Mostafa Madbouly, and Minister of Finance, Mr. Ahmed Kouchouk. Spokesman for the Presidency Ambassador Mohamed El-Shennawy said that during the meeting, a briefing was provided on the latest developments regarding hedging against global oil price fluctuation risks for FY 2025/2026 and FY 2026/2027. The Minister of Finance also reviewed progress in the implementation of the real estate tax facilitation package…

Prime Minister Ali Faleh Al-Zaidi Chairs the Second Session of the Supreme Council for Financial and Monetary Stability ••••• Prime Minister Ali Faleh Al-Zaidi chaired today, Saturday, the second session of the Supreme Council for Financial and Monetary Stability, with the participation of the heads and directors of the relevant entities and institutions. During the session, several issues related to the financial, monetary, and economic situation at the national level were discussed, as well as…

Damascus, Aug. 7 (SANA)Finance MinisterMohammed Yisr Barniehexpressed his gratitude to the World Bank Board of Executive Directors for approving a $100 million grant to support financial sector reforms in Syria, particularly the development of financial infrastructure and strengthening the capacity of theCentral Bank of Syria. Barnieh said the grant is the fifth approved by the World Bank for Syria, following previous grants supporting electricity, health, water and public financial management,…

Damascus, Aug. 7 (SANA)Central Bank of Syria Governor Mohammed Safwat Raslan said that theWorld Bank‘s approval of a $100 million grant to support the modernization of Syria’s financial sector represents an important milestone in developing the country’s financial andbankinginfrastructure, and an essential step toward building a modern financial sector aligned with international standards and best practices. “The project will contribute to modernizing payment systems, enhancing digital infrastr…

Damascus, (SANA)TheWorld BankBoard of Executive Directors approved a non-refundable $100 million grant to support the Financial Sector Modernization Project in Syria (IDA), the Central Bank of Syria said, welcoming the grant as support for developing the financial sector and strengthening its institutional and technological infrastructure. The grant, provided by the International Development Association, will support the development of financial and credit infrastructure, payment systems and fi…

Beijing, Aug. 8 (SANA)China’s foreign exchange reserves stood at $3.4188 trillion at the end of July 2026, an increase of $2.5 billion, or 0.07 percent, from the end of June, according to official data released by the State Administration of Foreign Exchange (SAFE). SAFE attributed the slight increase mainly to the combined effects of exchange-rate conversion and changes in asset prices. The U.S. dollar index fell in July amid global macroeconomic conditions and monetary policies of major econ…

Damascus, Aug. 8 (SANA)Finance Minister MohammedYisr Barniehsaid that allWorld Bankgrants provided to Syria so far are non-repayable and impose no financial burden on the public treasury, attributing growing confidence among internationalfinancial institutionsto an approach based on transparency and good governance in managing previous development financing provided by the World Bank. The World Bank announced on Friday that its Board of Executive Directors had approved a new $100 million grant …

Washington, Aug. 7 (SANA)TheWorld Bankannounced on Friday that its Board of Executive Directors approved a $100 million grant from the International Development Association (IDA) to support Syria in building a modern, secure, and digitally enabled financial sector. According to the official statement, the “Syria Financial Sector Modernization Project” will fund investments to make financial transactions safer, faster, and more transparent, while creating conditions to improve access to financia…

Damascus, Aug. 6 (SANA)TheInternational Monetary Fund’s assessment of the sustained momentum ofSyria’seconomic recoveryreflects the country’s transition toward a largely balanced trajectory, as banking legislation and financial reforms adopted after liberation have helped establish a more stable environment for attracting investment and supporting sustainable economic recovery. The IMF report, issued on August 4, serves as a key starting point for understanding the financial and economic transf…

Washington, Aug. 4 (SANA)The International Monetary Fund (IMF) said theSyrian economyis continuing to show increasing signs ofrecovery, forecasting economic growth of more than 10 percent this year, with strong growth expected to continue in 2027, supported by improved performance in productive and service sectors and the ongoing implementation ofeconomic reforms. The assessment came in a statement issued on Tuesday following a visit by an IMF staff team, led by Ron van Rooden, to Damascus from…

Damascus, Aug. 5 (SANA)Syrian Finance MinisterMohamed Yisr Barniehwelcomed Tuesday the positive assessment issued by the International Monetary Fund (IMF) regarding continued momentum in Syria’seconomic recovery, improved growth and fiscal performance. In a post on his Facebook page, Barniehsaid the IMF statement represents an important message that reinforces confidence in the reforms being pursued by the government to restore macroeconomic stability and support recovery. The minister added t…

August 5, 2026 onLatest News,Press Releases The strong financial performance recorded by many of the companies listed on the Nigerian Exchange in the first half of 2026 is attributable to several key economic reforms implemented by President Bola Ahmed Tinubu’s Administration since mid-2023. One of these significant reforms was the unification of the foreign exchange market. By establishing a single, market-determined exchange rate, the reform improved price discovery and enabled companies wi…