Latest economic and financial news about Syria, currency markets, and regional economy updates.
The Syrian Petroleum Company and US-based HKN Energy set out plans to raise output at the Rmeilan fields in Hasaka toward roughly 200,000 barrels a day, weeks after the American firm took over operations at Syria's largest oil cluster.
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The Ministry of Energy lowered the price of fuel oil for the productive sector to $400 a ton from $475, a $75 cut. Industrial producers said on 3 August 2026 the move would lower costs and strengthen the competitiveness of locally made goods.
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A visit by the president of Iraq's Kurdistan region to Damascus on 3 August 2026 spotlighted deepening cross-border commerce, with officials describing Syria as a transit corridor carrying construction materials, fertilizers, and food across a 600-kilometer frontier.
Read More →Syria's state property authority opened a national campaign on 2 August 2026 to recover public assets and fight corruption, flagging hundreds of properties tied to the Assad, Makhlouf, Shaleesh, and al-Jadaan families, mainly in Rif Dimashq and Latakia.
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Syria has secured World Bank approval of its 2026 performance and policy actions, unlocking larger concessional grant allocations for fiscal 2027 under the IDA's sustainable financing framework.
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The Central Bank of Syria has begun withdrawing old Syrian currency from circulation, granting a final one-week period for exchanges through banks and postal branches before the process continues exclusively through the Central Bank in Damascus for five years.
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Grain authorities in Al-Hasakah and Raqqa marketed more than 1.6 million tons of wheat this season, exceeding local needs, while farmers said delayed payments are hindering their summer planting.
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Aleppo International Airport received its first flights from three foreign carriers on 1 August 2026, arriving from Antalya, Düsseldorf, and Riyadh as the airport reopens to regular international traffic.
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Three international banks are arranging roughly $7 billion in five-year financing for Syrian power plants and airport works, with JP Morgan's involvement marking a step toward tapping global lending markets.
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Syria's Energy Ministry lowered the industrial fuel oil price from $475 to $400 per ton, a 15.8% cut aimed at reducing production costs for factories and boosting the competitiveness of Syrian goods.
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