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(UPI) Ziad Ghisn - The majority of Syrians are convinced that sanctions are inevitable, though official economic teams underscore several indicators of the economy's ability to cope with sanctions. Syria has foreign currency reserves exceeding $18 billion which are sufficient to finance the country's imports for 29 months. Moreover, Syrian agricultural production is high and it is self-sufficient in cereals, cotton, and olives. According to Abdullah Dardari, deputy prime minister for economic affairs, any siege will not be limited to Syria but will affect its neighbors, especially Lebanon, Iraq, Turkey, Jordan, and Arab Gulf countries. Dardari explained that 40% of Iraq's foreign trade is processed through Syrian ports, especially imports. Lebanon depends completely on Syria as a land outlet for its exports to Iraq, Iran, Turkey, and Arab Gulf countries. Turkey also looks at Damascus as its only gate for reaching Gulf markets.2005-11-25 00:00:00Full Article
Syrians Preparing for Sanctions
(UPI) Ziad Ghisn - The majority of Syrians are convinced that sanctions are inevitable, though official economic teams underscore several indicators of the economy's ability to cope with sanctions. Syria has foreign currency reserves exceeding $18 billion which are sufficient to finance the country's imports for 29 months. Moreover, Syrian agricultural production is high and it is self-sufficient in cereals, cotton, and olives. According to Abdullah Dardari, deputy prime minister for economic affairs, any siege will not be limited to Syria but will affect its neighbors, especially Lebanon, Iraq, Turkey, Jordan, and Arab Gulf countries. Dardari explained that 40% of Iraq's foreign trade is processed through Syrian ports, especially imports. Lebanon depends completely on Syria as a land outlet for its exports to Iraq, Iran, Turkey, and Arab Gulf countries. Turkey also looks at Damascus as its only gate for reaching Gulf markets.2005-11-25 00:00:00Full Article
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