Middle East Economic Survey
Syrian Parliament Approves 2012 Budget Bill
The Syrian parliament on 15 December approved the 2012 budget bill, which projects total expenditure and revenue at S1,326.55bn ($23.88bn). The budget is based on an oil price assumption of $75/B for Syrian light crude and $65/B for heavy crude. The steep increase in public spending of 58.8% over 2011 is due to a change in the accounting system with regard to the classification and...