NO. 12/13

25-DEC-1989/1 JAN1990

Financial and Banking News

Budgets & Revenues

Syrian Budget Shows Signs of Fiscal Strain

The Syrian budget for 1989, which was gazetted at the end of November,incorporates an 8.8% increase in spending to SL57bn ($5.1bn), compared with a23.5% increase last year. With inflation officially running at 40% (in early1988 - the latest available figure) and unofficially estimated to be at leastdouble this figure, the government has therefore accepted a severe...