Financial and Banking News
BUDGETS AND REVENUES
Syria Uses Foreign Borrowing To Boost 1993 Budget By 32%
The Syrian budget for 1993, which was published in the Official Gazettedated 20 May, projects a 32% rise in expenditure, the biggest in recent years.Total spending has been set at S123bn ($11bn at the official exchange rate of$1=S11.225). The increase is to be funded almost entirely from borrowing, andappears to assume that Syria will receive large amounts of money...