In brief
After a long civil war that left Syria's infrastructure in ruins, experts argue that lifting sanctions is essential for economic recovery and stability.
Despite the swift downfall of President Bashar al-Assad's regime, rebuilding Syria will require significant time and resources. Following nearly 14 years of intense conflict, the country is grappling with a devastated economy; nearly 90% of the population lives in poverty, and the Syrian pound has drastically devalued, crippling import capabilities for crucial resources like food and fuel.Once a nation where oil and agriculture formed the backbone of the economy—contributing to about 90% of exports—Syria has seen these sectors obliterated. Presently, the illegal drug captagon has emerged as the dominant export, highlighting the extent to which ordinary economic activities have been disrupted.Samir Aita, a Syrian economist, paints a stark picture of the situation, declaring, "The whole economic system in Syria is not functioning." Under the new leadership of rebel coalition head Ahmed al-Shara, the challenges ahead are monumental. Rebuilding infrastructure, offering security, and unifying various factions are just a few of the tasks necessary for restoring even a semblance of normalcy to the war-torn nation.Yet, experts unanimously assert that the most pivotal move for revitalizing Syria’s economy lies beyond its borders. The United States currently maintains extensive sanctions that hinder the nation’s ability to partake in international trade and investment. These sanctions are viewed as a significant barrier to recovery, and many believe that a reevaluation is crucial for any real progress towards economic stability.
