Damascus, SANA-The executive order signed by U.S. President Donald Trump lifting the majority of economic sanctions imposed on Syria represents a pivotal step that paves the way for a real economic and social breakthrough and reconnects Syria to the global financial system, according to what a number of economic experts confirmed to SANA.
Economic expert Dr. Mohammad Koussa said that the decision to lift US sanctions ends more than a decade of economic isolation and opens the way for a gradual improvement in monetary and financial indicators, most notably: an improvement in the exchange rate of the Syrian pound, a decline in inflation rates, and the flow of goods and services, which contributes to reducing the cost of daily living.
Koussa added that lifting sanctions on the Central Bank of Syria and financial institutions will enable Syria to return to the global financial transfer network (SWIFT), which will restore confidence in the banking sector and facilitate transfer and investment operations.
Impacts on Vital Sectors
Koussa said that the decision would open the door to a comprehensive recovery in the energy, oil, industry, trade, technology, and health sectors.
He affirmed that the return of international companies to Syria and the activation of cooperation with the World Bank and the International Monetary Fund would contribute to accelerating investment, reconstruction, and boosting the business environment in the country.
Integrating Syria into the Global Economy
In turn, Dr. Shafeq Arbash, a professor at the Faculty of Economics of Damascus University, said that lifting the sanctions has comprehensive positive effects, as it allows the reintegration of the Syrian economy into the global economic system, reduces the cost of trade exchange, and facilitates the arrival of financial transfers from abroad.
Arbash pointed out that the decision has a positive impact on the return of major international technology companies to provide their services in Syria.
khadega/MHD Ibrahim
