The International Monetary Fund published an end-of-mission statement following a staff visit to Damascus to assess Syria’s economic situation and discuss reform progress and capacity-building priorities. Staff reported continued economic recovery and set out a technical assistance program covering fiscal, financial sector, and statistical reforms. The statement points to stronger activity supported by improved sentiment, the continuing return of refugees, increased electricity provision and rainfall, and regional re-integration, alongside the removal of international sanctions and several new investment projects. Preliminary data indicate the central government budget ended 2025 with a small surplus, with the Ministry of Finance refraining from central bank financing; the 2026 budget aims to substantially increase spending on health care and education (including wage increases) and essential infrastructure, with safeguards if revenues or financing fall short. On the monetary and financial side, the Central Bank of Syria maintained a tight stance and, together with the absence of budget financing, inflation slowed to low double digits by end-2025 and the exchange rate appreciated relative to 2024; with the new currency introduction well underway, priorities identified include strengthening the central bank’s independence and monetary policy framework, assessing banks’ financial health, and restructuring and rehabilitating the banking system, payments infrastructure, and supervision. An extensive technical assistance program was agreed for the period ahead, including work on public financial management, revenue mobilization, debt management and debt sustainability analysis, and natural resource taxation, as well as support for new financial sector legislation, banking and payments rehabilitation, banking supervision, and monetary policy framework development. Continued improvements in national accounts, prices, balance of payments, government finance, and monetary statistics are intended to help pave the way for the resumption of Article IV consultations; the release notes the mission will not result in an Executive Board discussion.
International Monetary Fund 2026-02-25
International Monetary Fund staff concludes Syria visit and agrees extensive technical assistance program
The IMF's end-of-mission statement on Syria noted improved sentiment, increased electricity, and regional reintegration. The 2025 budget ended with a surplus, and the 2026 budget plans to boost healthcare, education, and infrastructure spending. A technical assistance program was agreed upon, focusing on fiscal and financial reforms, including public financial management, banking system rehabilitation, and monetary policy framework development.