Latest economic and financial news about Syria, currency markets, and regional economy updates.
The Central Bank of Syria has issued Decision No. 259, authorizing electronic payment companies and financial institutions to deal with the Visa and Mastercard networks, opening a regulatory path for direct engagement with the world's two largest card schemes.
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The Central Bank of Syria said on 3 May 2026 that 56% of the old Syrian pound (SYP) cash mass had been exchanged for new notes, with daily flows of 12 to 13 billion pounds and new exchange centers planned for Hasaka and Raqqa.
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Syria's finance minister suspended 29 employees on 3 May 2026 — 19 from Damascus-area finance directorates and 10 from the state-owned Real Estate Bank — bringing total Damascus-area suspensions in the campaign to 56.
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Storage across the Tishreen, Euphrates and Kadran dams has reached about 15 billion cubic meters, roughly 93% of capacity, after seasonal rainfall and Turkish snowmelt added some 3 billion cubic meters since the start of 2026.
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Syrian Foreign Minister Asaad al-Shaibani made his first official visit to Egypt on 3 May 2026, accompanied by Economy Minister Nidal Shaar. The Syrian government issued a decree forming a Syrian-Egyptian Business Council to anchor renewed trade and investment ties.
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Hasakah's fuel directorate sharply raised subsidized diesel prices on 3 May 2026, lifting agricultural diesel to 25 US cents per liter from about 10 cents, as a two-week shortage left drivers sleeping near filling stations.
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Syrian Petroleum Company says technical upgrades at the Banias refinery raised daily Iraqi crude tanker discharges to about 500, lifting operational capacity by roughly 30% and saving about 40 working hours a day. The move dovetails with a planned Iraqi pipeline to Banias.
Read More →Iraq's oil ministry has launched a 700-kilometer pipeline between Basra and Haditha with capacity for 2.5 million barrels a day and an initial $1.5 billion budget, framed as a step toward reopening crude exports through Syria's Banias port.
Read More →Syria's General Grain Corporation said on 2 May 2026 that domestic stocks near 1 million tons and an expected harvest will eliminate the need for wheat imports this year, although the 2026 procurement price has not yet been set.
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Iraq dispatched its first 70 tankers of crude oil to Syria through the Rabia-Yaarubiyah land crossing on 1 May 2026, opening a new export route weeks after the border post was officially reopened.
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