VOL. XXXIX

No. 38

17-June-1996

SYRIA

Syrian Budget Projects 17% Increase In Spending As Liquidity Improves

The Syrian budget for 1996, as published in the Official Gazette of 8 May, foresees a rise in total expenditure of 16% to S188bn ($4.477bn) and total revenues up by 6% to to S156bn ($3.711bn). This leaves a deficit, referred to in the nominally balanced budget statement as exceptional financing by foreign and domestic loans, of S31.1bn ($740mn) - a fall of some S5.5bn (15%) on...