The Syrian Rose

For the past 4 years, every aspect of Syria has suffered. The media often focuses upon the political and social aspects of this suffering, but rarely do we see insight on the effects the war has had on the country's economy.

From the moment the first protest erupted, the Syrian economy was in decline. Currently, more than 5 millions Syrians have fled the country, almost 8 millions are internally displaced, and the death toll has long since passed the 200,000 mark. Estimates of the population decline in Syria are anywhere between 15-23% and it's not set to rise back up anytime soon.

Recent reports by media outlets such as the BBC and The Independent have emerged, stating that 'Syria's economy has been cut by half', and that it is 'on the brink of collapse'.

Frankly, I am surprised there is any semblance of an economy left. According to the reports, the Syrian pound ( or ليرة سوري) has lost about 80% of its value. Syrian exports have dropped from $12.5 billion to $2 billion. The poverty rate, estimated to be 64.8% in 2013, rose to 82.5% in 2014. Most of the Syrian population is currently described as living in, "extreme poverty".


The World Bank
The Independent
BBC