NO. 37


Financial and Banking News

Budgets & Revenues

Syrian Budget Offers Little Ground for Optimism on Economy

The Syrian budget for 1992, published in the Official Gazette on 27 May,projects a 9.9% rise in expenditure, well below the current level of inflation,which is believed to be around 20-35%. However, the reasons for thisnon-inflationary budget lie more with Syria's inability to fund its deficit thanwith fiscal prudence. After receiving a huge increase in foreign...