NO. 38


Financial and Banking News

Public Finance

Syrian Budget Spending Falls In Real Terms

The Syrian budget for 1995, published in The Official Gazette on 6 June,projects a decrease in spending in real terms as the state slowly withdraws fromthe commanding heights of the Syrian economy. The nominal 12% increase in thetotal spend is more than offset by an inflation rate running at over 20%. Thefact that manufacturing industries and banking, insurance and real estate are...