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Syrian economy shows growth

THE SYRIAN ECONOMY grew 6.5 per cent in 2007 and last year, showing that the governments policies were effective, Prime Minister Mohammed Naji Otri said. "Certain economic indicators reflect the correctness of our plans. GDP registered 6.5pc growth in 2007 and 2008. These figures inspire optimism and show we are on the right track," he told a meeting of engineers.

Syria is suffering less than other countries from the global economic crisis, although it will lead to a fall in exports and in remittances home from expatriate workers, he said. Otri said banks operating in Syria have assets of US$14 billion and the government is looking at ways of investing the money in major development projects.