After visiting the country earlier this month, an International Monetary Fund team sees prospects for economic improvement and agreed on technical assistance to strengthen Syria’s fiscal framework and monetary policy.
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The projected growth represents a slowdown compared to last year, when the country expanded by 6.3%. Prospects, however, remain positive, according to the IMF.
Alongside cuts in foreign aid, climate shocks will impact the country’s economy this year, says the International Monetary Fund, following a meeting to discuss a new financial disbursement.
After meeting with officials from the Arab country, the International Monetary Fund praised fiscal efforts but called for “ambitious” reforms to restore growth.
An IMF analysis indicates a decline in oil GDP, but domestic consumption and government projects will sustain growth in other sectors and the country as a whole.
A survey conducted by the IMF shows that consumption, government investments, and job creation are responsible for the expansion of the Gulf country.
The GDP of the Arab country grew less in 2024 but is expected to advance this year based on the performance of the oil sector. Public spending also supports part of Libya’s economy.
The adoption of a budget for the rest of 2025, capacity building for the Central Bank, and modernization of the tax and customs system were some of the measures agreed upon by the Syrian government and a team from the International Monetary Fund.
Ministers of Finance and of Economy and Trade convene with an International Monetary Fund delegation to come up with a growth strategy.
A delegation from the International Monetary Fund met with local authorities and highlighted the need for economic reforms so that the country can achieve greater growth.
The Arab African country recorded a decline in its economic activity in 2024 due to reductions in exports, imports, and lower credit lending.
A disruption in oil exports impacted the Arab country’s growth last year, but GDP is expected to benefit from the sector’s expansion in 2025, according to the IMF. Libyans are currently producing nearly 1.4 million barrels per day.
An International Monetary Fund report highlights the Gulf Cooperation Council nations’ strategies to increase the digital sector’s share of GDP and make it dominant in government services.
In a meeting with the cabinet, the president highlighted that the 2025 budget has been approved, and that the country should implement the suggestions made by the International Monetary Fund delegation.
