Latest economic and financial news about Syria, currency markets, and regional economy updates.
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Bank opened a dedicated exchange counter at its Raqqa branch on 5 August 2026 and extended the deadline for swapping withdrawn banknotes across Raqqa, Deir ez-Zor, and Hasaka to 20 August, with cash swaps capped at five to ten million pounds per person.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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Tartus Port has received 551 vessels and handled about 5 million tons of cargo since the start of 2026, as the port authority upgrades cranes and equipment to expand capacity.
Read More →Syria has told Washington it is ready to significantly reduce imports of Russian oil, now about 60,000 barrels a day, as the two sides discuss easing US sanctions and removing Syria from the state-sponsors-of-terrorism list.
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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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