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[ Tue, May 13th 2025 ]: Reuters

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Syria's finance minister says foreign investors welcome after US sanctions move

Syrian Finance Minister Yisr Barnieh made a call to global investors on Wednesday to come do business with Syria after U.S. President Donald Trump's surprise announcement that he would lift all of Washington's sanctions on the country. "Syria today is a land of opportunities, with immense potential across every sector—from agriculture to oil, tourism, infrastructure, and transportation," Barnieh said in an interview with Reuters at the Ministry in Damascus.
Syria's Finance Minister, Kinan Yaghi, stated that foreign sanctions and the ongoing war are severely impacting the country's economy, leading to a significant budget deficit and a sharp decline in the value of the Syrian pound. In an interview with Russia's Sputnik news agency, Yaghi mentioned that the government is struggling to pay public sector wages and pensions due to the economic crisis. He also noted that the sanctions have restricted the import of essential goods, further exacerbating the situation. The minister emphasized the need for international assistance to help alleviate the economic hardships faced by the Syrian people.

Read the Full Reuters Article at:
[ https://www.yahoo.com/news/syrias-finance-minister-says-foreign-165214340.html ]