Conclusion Syria historically maintained a socialist, state-dominated economy. Ambiguous laws and regulations along with Syria’s reluctance to open markets are likely to weaken or discourage future economic growth. There is some pressure on President Bashar Al-Assad to reform, by those Syrians "who feel that the current authoritarian nature of the regime is unhealthy for the future development of a country that has fallen far behind others economically, socially, etc… Most young Syrians want to leave because there are so few opportunities."1 The past two decades saw the Syrian government release some controls on the economy, establishing private banks and cutting interest rates and moving toward some privatization of business. The Syrian government created seven free trade zones to help promote foreign investment. They have allowed foreign companies to deal in hard currencies, and assure that profits are transferable out of Syria. Foreigners can own companies and may own land. In order to receive support from the west, however, Syria will need to comply with the Syria Accountability and Lebanese Sovereignty Act by ceasing to support terrorist groups. Alongside this, future long-term economic challenges to the Syrian economy include declining oil production, increased pressure on water supplies because of population growth, and water pollution.2
Syria historically maintained a socialist, state-dominated economy. Ambiguous laws and regulations along with Syria’s reluctance to open markets are likely to weaken or discourage future economic growth. There is some pressure on President Bashar Al-Assad to reform, by those Syrians "who feel that the current authoritarian nature of the regime is unhealthy for the future development of a country that has fallen far behind others economically, socially, etc… Most young Syrians want to leave because there are so few opportunities."
