Syria is moving forward with a new plan to develop its economy, launching a huge 45 billion US dollar scheme to bring the one-in-seven of its citizens on insufficient incomes out of poverty
The five-year plan, set to start next year, aims to invest 14 billion dollar in human development – education, health and social programs, officials say.
The rest will be aimed at infrastructure – construction of a Damascus metro, a railroad from the capital to the Jordanian border, upgrading the Mediterranean ports of Tartus and Latakia, and modernizing Damascus airport.
Syrian Deputy Prime Minister Abdullah al-Dardari recently confirmed that the Syrian government faces huge challenges related to poverty.
He said that the goal of the five-year-plan is to reduce population growth which is the main obstacle in the countrys eco-nomic and social development.
According to 2010 official statistics, the country’s population which is estimated at 22,5 million increases by three percent every year.
As part of financing for the plan, Syria is to issue treasury bonds on Monday for the first time ever, placing about 107 million dollar in issues ranging from three months to five years in maturity. It is also seeking help from international financial institutions, such as the World Bank.
Kilde: www.worldbank.org
