Latest economic and financial news about Syria, currency markets, and regional economy updates.
The finance minister suspended 34 employees across tax directorates in Damascus, Hama and Aleppo and the state-run Real Estate Bank on 6 August 2026, referring them for investigation in a corruption crackdown that has removed about 70 staff since June.
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Syria's economy ministry signed a memorandum of understanding to rehabilitate grain silos, upgrade flour mills and modernize public bakeries, aiming to expand storage capacity and safeguard the country's strategic wheat reserves.
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Syria's financial-supervision body has referred a contractor and five Real Estate Bank officials to court over irregularities in a 2021 systems contract valued at $8.454 million and 11.313 million old pounds, freezing their assets on 6 August 2026.
Read More →Syria and U.S.-based HKN Energy confirmed an agreement to redevelop the Rmeilan oil complex, with Syria retaining 70 percent of revenue and output targeted to reach 250,000 barrels a day by the end of 2027.
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The Central Bank opened a dedicated exchange counter at its Raqqa branch on 5 August 2026 and extended the deadline for swapping withdrawn banknotes across Raqqa, Deir ez-Zor, and Hasaka to 20 August, with cash swaps capped at five to ten million pounds per person.
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Syria's state electricity company signed three agreements on 5 August 2026 with a Saudi contractor to build solar plants totaling 760 megawatts, backed by battery storage, in the Damascus countryside.
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An International Monetary Fund mission that visited Damascus in July said Syria's economy is set to expand more than 10 percent in 2026, citing an agricultural rebound, higher oil output and the return of about 1.5 million refugees.
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Consumer-protection inspectors in Damascus recorded 61,447 supply and pricing violations in the first half of 2026 and struck 74 bakeries from official registers, many for selling underweight bread or misusing subsidized flour.
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The Ministry of Local Administration and Environment issued the first edition of a mandatory guide governing how local units award investment and contracting deals, built around the new Syrian pound and focused on protecting public funds.
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Sheikh Najjar Industrial City in Aleppo has signed a 25-year build-operate-transfer contract with a Dubai-registered firm to build the area's first integrated industrial mall, a 3,200-square-meter complex due in two years.
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