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The International Monetary Fund (IMF) stated on Monday that Syria’s economy is showing early signs of recovery, with the country’s new administration adopting tight fiscal and monetary policies to stabilize conditions.
The announcement followed a four-day mission to Damascus, held from November 10 to 13, 2025, and led by IMF official Ron van Rooden. It marked the Fund’s most direct engagement with Syrian authorities in years and set the stage for renewed technical cooperation to strengthen the country’s economic framework and key institutions.
According to the IMF statement, Syria’s economy is beginning to recover, bolstered by improved investor and consumer confidence under the leadership of President Ahmad al-Sharaa, who assumed office after the end of Syria’s civil war in December 2024. The IMF also cited the lifting of international sanctions and the return of more than one million refugees as positive developments.
"Fiscal discussions focused on the formulation of the 2026 government budget, which aims to increase fiscal space for meeting essential needs, including for social sectors to support the most vulnerable," van Rooden said. "This budget will be based on ambitious but realistic revenue and financing assumptions."
He also added that IMF staff would provide extensive technical assistance to strengthen the fiscal framework by helping the authorities improve public financial management and revenue administration, finalize new tax legislation, and develop a strategy to address Syria’s legacy debts and improve debt management.
"In this context, it is important that the new tax regime will be simple, competitive, and easy to administer, while avoiding generous exemptions and creating room for arbitration and avoidance," van Rooden noted.
The IMF team also initiated discussions on building a monetary policy framework that targets low and stable inflation, tailored to the current challenges in Syria’s financial sector.
“In this regard, IMF staff will provide technical assistance to support the authorities with the formulation of new financial sector legislation and regulation, the rehabilitation of the payment and banking systems, and rebuilding capacity at the central bank to ensure it can effectively implement monetary policy and supervise the financial system,” van Rooden added.
The fund will also assist Syria in improving its statistical systems, as the current lack of reliable economic data hampers effective policymaking.
Van Rooden concluded by reaffirming the IMF’s commitment to supporting Syria’s economic recovery, noting that staff had discussed detailed reform roadmaps with the authorities and expressed appreciation for the candid dialogue and warm hospitality extended by senior officials, including Finance Minister Yisr Barnieh and Central Bank Governor Abdulkader Husrieh.
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