Syrian Economy Lost 442 Billion Dollars over Eight Years

A new report has documented the devastation caused to the Syrian economy during the years of conflict reports Sowt Al-Asima.

A recently published report estimated the size of the losses suffered by the Syrian economy during the last eight years, at more than 400 billion dollars.

The Economic and Social Commission for Western Asia (ESCWA), in cooperation with St. Andrews University in the UK, issued a report in which it said that the losses incurred by the Syrian economy amounted to about 442 billion dollars. Capital losses amounted to about 117.7 billion dollars, while GDP losses were estimated at about 325.5 billion dollars.

According to the report, “despite the magnitude of the number, it does not quite capture the extent of the suffering of the population, of whom 5.6 million were registered as refugees, 6.4 million were internally displaced, 6.5 million suffer from food insecurity, and 11.7 million are still in need of at least one form of humanitarian assistance.”

The Syrian Center for Policy Research (SCPR) published a study about Syria’s economic losses, which showed that the country’s total economic losses over nine years amounted to more than 530 billion dollars, an increase of more than 130 billion from the most extreme estimates by UN and Syrian experts two years ago.

The study pointed out that 40 percent of the infrastructure was damaged, which caused a loss of about 65 billion dollars, adding that the poverty rate reached 86 percent of Syrian people, who number about 22 million.

 

This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.

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