As Shara'a Begins His Gulf Tour to Strengthen the Economy, World Bank Predicts 1% Growth in Syria's GDP in 2025

SadaNews - The World Bank predicts a 1% growth in Syria's Gross Domestic Product (GDP) this year, following a contraction of 1.5% in the previous year, 2024.

Reuters reported the World Bank Group as stating in a statement today: "The easing of sanctions provides some promising potential; however, progress remains limited as assets remain frozen and access to international banking services is restricted, obstructing energy supplies, foreign aid, humanitarian support, trade, and investment.

Last month, the World Bank approved a grant of $146 million to improve electricity supplies and support economic recovery in Syria.

On July 1st, U.S. President Donald Trump issued an executive order transitioning the temporary freeze on sanctions imposed on Syria's financial and banking sector to a final lifting.

Syrian Finance Minister Muhammad Yasser Barniya confirmed that this order is a significant and important step that will positively impact the Syrian economy.

In parallel, the Governor of the Central Bank of Syria, Abdul Qadir Al-Hosriya, viewed this as a historic opportunity to continue efforts in enhancing transparency, governance of financial institutions, and integrating the Syrian financial system into the international financial system.

Shara'a Begins His Second Gulf Tour to Strengthen Economy and Investment

Syrian President Ahmed Shara'a has embarked on his second tour to the Gulf Cooperation Council (GCC) countries, coming after the lifting of most international sanctions on Syria. This tour aims to bolster economic cooperation and attract Gulf investments into Syria as part of a comprehensive reconstruction and economic development plan.

The Emirati capital Abu Dhabi was the first stop of the visit, where Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, welcomed President Shara'a. An official meeting was held between the two sides to discuss enhancing economic and developmental cooperation and ways to support Syria's post-war efforts.

During the meeting, President Shara'a emphasized that Syria, having turned the page on war and division, is moving towards building strategic partnerships with its Gulf brothers, praising the UAE's leading role in supporting regional stability and expressing Syria's eagerness to benefit from the UAE's experience in sustainable development, digital transformation, and clean energy.

For his part, Sheikh Mohammed bin Zayed welcomed President Shara'a's visit, affirming the UAE's full support for stability and reconstruction efforts in Syria and its commitment to enhancing bilateral cooperation in various fields, particularly investment, infrastructure, and technology.