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Economic Loss in Syria Amounts to 800 Billion Dollars

The internal war in Syria has caused significant economic devastation. According to the United Nations, Syria has experienced a loss of 800 billion dollars during this process. In order for the country to return to its former state within 10 years, the growth rate needs to increase by 10 times. The 14-year-long civil war has hit the economy, leading Syria to suffer billions of dollars in losses. The United Nations Development Program has released an impact assessment report on Syria. The report indicates that one-third of the country’s housing and health centers have been damaged. The economic size has decreased by half since 2011. There has been an $800 billion decline in the country’s gross domestic product. The Syrian Pound has lost 270 times its value against the dollar in 13 years. Inflation has soared up to 141%. The poverty rate in Syria before the civil war was at 33%, but during the war, it tripled to 90%. Currently, 9 out of 10 Syrians are living in poverty, while 1 out of 4 Syrians is unemployed. Today, 5.7 million people in Syria are in need of shelter support. 14 million people are facing clean water and hygiene issues. The country’s current economic growth rate has been determined as 1.3% annually, and at this pace, reaching pre-war economic levels may take 55 years. To return Syria to its former state within 10 years, the annual growth rate needs to be increased by 10 times.

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