Latest economic and financial news about Syria, currency markets, and regional economy updates.
Turkey's state-owned Ziraat Bank and private Aktif Bank have applied to open branches in Syria after the two governments agreed to admit Turkish lenders, a step that could route growing bilateral trade through formal banking instead of cash and informal transfers.
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Turkey's commerce minister set a $10 billion bilateral trade target with Syria, up from $3.75 billion last year, as transit routes reopened and a new Nusaybin-Qamishli crossing is due to open before the end of 2026.
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Syria logged 3.52 million visitors in the first half of 2026, more than double a year earlier, with foreign tourists up 448 percent. Officials tied the rebound to renewed confidence and flagged openings for hotel and hospitality investment.
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Syria is preparing its first sovereign sukuk since the change of government, aiming to raise $500 million to $900 million toward a projected $1.8 billion budget deficit while avoiding the inflation that comes with printing money. A first issue is not expected before late 2026.
Read More →A vehicle-manufacturing company owned by Syria's sovereign fund has signed a contract with Chinese manufacturer Yutong to build a modern vehicle plant in the country, in a deal centered on local production, technology transfer and training rather than imports.
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Syria's grain authority says it has taken in more than 2.4 million tons of this year's wheat and now holds about 3.31 million tons in reserve, after rehabilitating silos and opening 84 receiving centers across 11 governorates to secure flour for bakeries.
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A World Bank grant of $175 million will finance a six-year program to modernize Syrian agriculture, from crop production and livestock to digitizing the agriculture ministry, with technical preparations under way in Amman.
Read More →Syria unveiled a national strategy to combat money laundering, terrorism financing, and weapons proliferation on 21 July 2026, developed with UN support. The central bank governor said the plan aims to lift the country from the Financial Action Task Force gray list.
Read More →The United Arab Emirates has outlined wide-ranging investments in Syria, including $20 billion in real estate in Damascus and Latakia, alongside plans for an oil export corridor through Syria that would bypass the Strait of Hormuz.
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The Ministry of Economy and Industry and the World Food Programme signed a three-year memorandum in Damascus on 19 July 2026 to rehabilitate bakeries, mills, and silos, after completing an estimated 60 to 70 percent of bakery-sector development over 18 months.
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