Assad Declares 2016 State Budget Revenues

State general budget for next fiscal year set at nearly 2 trillion Syrian pounds in accordance with Presidential decree

President Bashar al-Assad issued a law on Monday setting the revenues of the state general budget for the 2016 fiscal year at 1.98 trillion Syrian pounds.

Finance Minister Ismael Ismael told SANA that the state general budget for the 2016 fiscal year was set at SYP 1.98 trillion, an increase of SYP 426 billion (or 27.4 percent) compared to the 2015 budget, which was set at just over SYP 1.5 trillion.

Syria’s parliament approved the bill for the 2016 general budget on November 19, where the allocated funds for social subsidy, which will go towards stabilizing market prices, were set at SYP 192 billion, with the total sum allocated for social subsidy estimated at over SYP 973 billion.

Funds allocated for salaries, wages, and compensation are set at SYP 372 billion, over 56 billion more than 2015’s budget.

This article was edited by The Syrian Observer. Responsibility for the information and views set out in this article lies entirely with the author.

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