Tuesday, March 30, 2010


"Unlike some of its immediate neighbours burdened with heavy foreign debt, Syria's economy has an edge. It has relatively low debt one of the lowest among the Arab countries.

It also has another advantage: high foreign exchange reserves.

However, Syria's economy has other challenges to face as a result of its current movement through a "transitional phase", economic experts say.

"We are a transitional economy, moving from a command economy to a market economy," Nabeel Sukkar, founder and manager director of The Syrian Consulting Bureau for Development and Investment (SCB), added."

"Why [do] we want to move to a market economy?" Sukkar asked Gulf News. "Because a market economy leads to more efficiency in allocating resources."

Read the rest of this article: It says what the introduction says, that Syria was able to build a low debt, high foreign reserve economy under a "command-type" economy, which mitigated the impacts of the financial crash. But now, they have to introduce neo-liberal economy in order for the new plutocracy to empty the coffers and to destroy the productive sectors, agriculture and industry.

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