SYRIA

Syria’s Economic Woes Only Set To Intensify

As Syria’s civil war enters its fifth year, key indicators point to further deterioration in the economy, with oil production sinking to an all-time low and further depreciation in the value of the local currency.

Syrian oil production in the government-controlled areas in 2014 slumped to 9,329 b/d, the Syrian Minister of Petroleum and Mineral Resources Sulaiman al-‘Abbas announced this week. This output is a mere 2.4% of...