Syria maintains spending in 2014 budget despite war losses

By REUTERS
October 12, 2013 18:41

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

BEIRUT - Syria's government has agreed a 2014 budget of 1.39 trillion pounds ($8.18 billion), state news agency SANA said on Saturday, a marginal increase on this year's spending despite the economic devastation wrought by more than two years of civil war.

The agency gave no breakdown of spending, which it said was 7 billion pounds higher than the 2013 budget, but it quoted Prime Minister Wael al-Halki as saying it would focus spending on education, health and agriculture sectors.

Syria's 2-1/2 year civil war has ruined the country's economy, causing tens of billions of dollars of damage and depriving it of crucial tourism and oil export revenues.

Figures released by the Central Bank showed its foreign reserves fell by more than a third in the first 10 months following the outbreak of protests against President Bashar Assad in March 2011.

But Syria has received extensive financial support from its ally Iran, including billions of dollars in credit facilities to buy oil products, to help shore up its finances.

Related Content

Breaking news
July 17, 2018
Iran files suit against U.S. sanctions at World Court

By REUTERS