Middle East Economic Survey

VOL. XLVIII

No 41

10-October-2005

SYRIA

Declining Oil Ouput Poses Serious Threat To Syrias Economic Future, Says IMF

Falling Syrian oil production and exports, and the prospect of becoming a net oil importer within a few years pose a serious threat to the Syrian economy, the IMF has said following article IV consultations completed on 31 August. Given that oil which presently contributes 20% of GDP, two-thirds of exports, and half of government revenues is likely to be...