NO. 31


Financial and Banking News

Budgets & Revenues

Syrian Budget Shows Continuing Strain

The Syrian budget for 1990, gazetted on 7 March, has been set at SL61,875mn($2,946mn), a 7.8% increase on the revised 1989 budget. With inflation runningat around 40%, this represents a sharp decline in spending in real terms. Theincreases will go mainly to government salaries, agriculture and the oilindustry. Military spending has been pegged at its 1989 level, but stillaccounts...