VOL. XXXIX

No. 30

22-April-1996

SYRIA

Syrian Government Proposes 16% Increase In 1996 Budget Spending

The Syrian draft budget for 1996, which is currently being debated by the Syrian parliament, envisages a 15.7% increase in expenditure and revenue to S187.45bn ($4.46bn at the official rate of $1=S42) from S162bn ($3.86bn). Although the Syrian budget is nominally balanced, the revenue side includes a deficit which is covered by foreign and domestic loans. In 1995, for instance, foreign...