## Syrian Arab Republic: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Syrian Arab Republic

_IMF Staff Country Reports, February 13, 2009_

## Source details

**Canonical URL:** [Syrian Arab Republic: 2008 Article IV Consultation: Staff Report; Staff Statement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for the Syrian Arab Republic](https://www.imf.org/en/publications/cr/issues/2016/12/31/syrian-arab-republic-2008-article-iv-consultation-staff-report-staff-statement-public-22702)

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## Bibliographic details
- Published: February 13, 2009
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451836325.002

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### Summary of the report
- The staff report covers the 2008 Article IV Consultation of the Syrian Arab Republic on economic developments and policies.
- The impact of adverse global and regional developments currently under way on the Syrian economy is expected to be relatively moderate in the short term.
- The effects are likely to operate through weakening FDI, remittances, and demand for Syrian exports from the Gulf region.
- The positive outlook is contingent on perseverance in advancing fiscal and structural reforms and an improvement in global conditions over the medium term.
- Full text also available in Arabic.

### Economic outlook and transmission channels
- Short-term impact described as “relatively moderate.”
- Primary channels of adverse effects identified:
  - Weakening FDI
  - Weakening remittances
  - Reduced demand for Syrian exports from the Gulf region

### Risks, contingencies, and conditions for the outlook
- The favorable outlook depends on:
  - Continued fiscal reforms
  - Continued structural reforms
  - An improvement in global conditions over the medium term

### Policy implications and recommendations
- Emphasis on perseverance in advancing fiscal reforms.
- Emphasis on perseverance in advancing structural reforms.
- Monitoring external channels (FDI, remittances, export demand) given vulnerability to regional and global developments.

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/syrian-arab-republic-2008-article-iv-consultation-staff-report-staff-statement-public-22702_