Losing Syria’s Economic Future
Left with a tattered economy after nearly three years of war, an effective economic recovery plan should be a cornerstone of Syria’s reconciliation. The Syrian conflict is destroying the economy and creating a long term economic crisis for Syria that will make a lasting peace in the future even more difficult. With the ongoing fighting, the economy’s downward trend persists and experts expect Gross Domestic Product (GDP) to decrease by a further 13.9 percent by year-end (it is already down 14.4 percent in 2012 ). Furthermore, de-industrialization, debt, and geographic division worsen the outlook of Syria’s economy beyond the current conflict. Addressing the country’s economic crisis and presenting viable measures for an economic recovery should go hand in hand with the political reconciliation process. The country’s main economic drivers were hit particularly hard. Among those, Syria’s oil sector is at a standstill. The energy infrastructure has been severely damaged, wel...