Latest economic and financial news about Syria, currency markets, and regional economy updates.
Syria announced a memorandum of understanding with Russia on 9 August 2026 under which the Syrian state will take over civilian management of Hmeimim airport and Commercial Pier 4 at Tartus port, after 18 months of negotiations.
Read More →The Rabia–al-Yaarubiyah crossing on the Syria–Iraq border is set for a one-to-two-month upgrade to handle about 300 transit vehicles and more than 1,000 oil tankers a day, part of a plan to make it Iraq's busiest gateway.
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Syria's finance minister and a senior U.S. Treasury official held a video meeting on the steps needed to reintegrate the country into the global financial system, after Washington lifted sanctions and removed Syria from its terrorism list.
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Syria's central bank said citizens can hand in old banknotes at accredited post offices in every governorate rather than traveling to Damascus, part of a five-year withdrawal process that began on 31 July 2026 after the exchange deadline closed.
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Three transit vessels from Brazil and Spain unloaded about 29,000 head of livestock at Syria's Tartus port on 8 August 2026, bound overland for Jordan and Iraq, as the port expands its role as a regional trade and transport corridor.
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Damascus's water authority and a Saudi firm are starting to install a trial batch of smart water meters, the first step of a 5-million-meter agreement signed in June 2026 and set to run over four years.
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The finance ministry says cumulative World Bank development financing to Syria has reached $491 million across five grants, all offered without repayment obligations, with a $100 million package now directed at the financial sector.
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State auditors in Aleppo say fraud in insurance and pension branches drained more than 90 billion Syrian pounds in public revenue, citing forged pension cards and contracts worth some 3 trillion pounds that were deliberately undervalued. The case has gone to prosecutors.
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Syria's water sector produced 558 million cubic meters of drinking water and reached more than 15 million people in the first half of 2026, alongside new wells, rehabilitated stations and thousands of kilometers of repaired networks.
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The World Bank's board approved a $100 million grant on 6 August 2026 to overhaul Syria's financial sector, funding digital payment systems, banking rehabilitation and stronger central bank oversight to reconnect the country to global finance.
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