Water System Damages in Homs Fixed at a Cost of 44 Million SYP

In parallel with acts of killing, abduction and threats against the Syrian citizens  all over the country, the   armed terrorist groups also targeted  state owned enterprises and  the service sector enterprises. The terrorist groups destroyed communications towers, electricity reservoirs, oil pipelines, railways lines, and irrigation systems and potable water wells.

The largest share of these attacks goes to Homs, where damages on  dams, irrigation systems, drinking water wells and service cars of the water resources directorate in Homs ,  caused by terrorists attacks was estimated at 44 million Syrian pounds.

 However, the directorate's efforts are mobilized  to carry out instant  repair and maintenance works for the main water canal of Homs – Hama irrigation system, through fixing  damages resulted from attacks carried out by terrorists and mercenaries.


Syria Times

CBS Governor: Sufficient Reserve Cash Available

DAMASCUS, (ST)_ Dr. Adib Mayaleh, the Governor of the Central Bank of Syria (CBS), denied media reports that the bank instructed exchange offices to stop selling foreign currency until a further notice.

  Mayaleh, in a statement to SANA, confirmed that CBS had sufficient reserve cash to meet the needs of the country, maintain exchange rate of the Syrian Pound.

 Dr. Mayaleh added that the bank is covering the needs of the commercial and non-commercial market.


Ibrahim Zaaboub

Draft law for GFFA

DAMASCUS-(ST), Director of the General Foundation of Free Areas (GFFA) has recently assured that the foundation is working to issue a draft law of free areas. The goal of this law is to overcome obstacles hindering the process of investment. The draft is being studied by the economic committee at the Cabinet.

 The draft law focuses on giving the industrial activity in free zones added features particularly high- tech industries, that don't exist in Syria, to achieve integrity with local industry in Syria.


"The GFFA seeks to set up private free areas, particularly specialized ones, such as information, medical or industrial cities," the director pointed out.



Sh/ Kh

Syria stops buying Turkish electricity

 DAMASCUS, (ST)_ Syrian Government stopped buying electric power from Turkey last week,  according  to news agencies  on October 11.

 Turkish Minister of Energy and Natural Resources Taner Yildiz said that Syria stopped buying electricity from his country without giving more details. The Syrian government gives no comment on this news.

 Turkey supplies Syria with  232.2 million kilowatt / hours of electric power  every month and  according to Syrian official sources the Turkish supply forms 3% of Syria’s total consuming.

 The Syrian-Turkish ties deteriorated following Turkey’s government supports for armed terrorist groups. The Turkish government imposed hard sanctions.  Syria responded with freezing the Free Zone agreement between both countries and imposing 30% additional taxes on Turkish-made goods.


Obeida al- Hamad 

Joint Initiative to alleviate economic crisis

 DAMASCUS, (ST)_ Under the slogan of " alleviating the impact  of the crisis on society and economy", the Ministry of Economy and Foreign Trade, in cooperation with "Al-Jodda" group for Studies discussed an initiative to overcome consequences  of the sanctions against Syria.

The initiative points out that the Syrian economy is of multiple resources, and its main components are  agriculture, industry , trade, services  and  crude oil.

"Syria has new drives and orientations to withstand global conspiracy, achieve food security and boost its  national economy", the initiative read.

It stressed the importance of cooperation among national, foreign , official and private organizations to achieve the set objectives.

For his part , the Deputy Economy and Foreign Trade Minister Dr. Hayyan Salman said Syria has been encountering all forms of sanctions which aim at undermining its economic and trade stability, asserting that the initiative would help  support the Syrian current economic and trade orientations, help entrepreneurs, and theprojects , damaged by severe acts of terrorists groups.

Chairman of Al-joda group  noted that the  key role played by the ministry is to support productive and economic projects, to create new job opportunities in cooperation with the public, private and joint sectors.

Rawaa Ghanam