Damascus: Syrian economic experts have described the US decision to lift economic sanctions on Syria as an important step and a strategic turning point in the country’s economic recovery process.
According to Qatar News Agency, the experts said that the potential benefits of this move will depend on the implementation of urgent structural reforms, particularly in the banking and financial sectors, and on creating a secure and attractive investment environment.
They added that the US decision to lift sanctions marks the beginning of a new economic era for Syria. However, realizing its full positive impact will rely on Syria’s domestic response, including comprehensive financial and banking reforms, improvement of the investment climate, and the building of partnerships with the private sector and international community, especially with a focus on developing the banking infrastructure and advancing digital transformation.
Vice President of the Syrian Virtual University (SVU) Dr. Rasem Ibesh stated that the US decision lays the foundation for a new economic launch following decades of economic isolation. Dr. Ibesh noted that the lifting of sanctions paves the way for increased investment flows and financial transfers, which will help stimulate growth in productive sectors, particularly industry and real estate.
He predicted a gradual influx of investments in the coming months, along with an improvement in the Syrian pound’s exchange rate against the US dollar, expecting a 20% increase in the first half of the year and possibly up to 40% within the first year, supported by higher external remittances. Dr. Ibesh also stated that reintegration into the global financial system, particularly the SWIFT transfer system, has become possible. However, it requires the rehabilitation of the severely damaged banking infrastructure and strict compliance with international standards on anti-money laundering and counter-terrorism financing, as well as rebuilding trust with global financial institutions.
Munaff Koman, economist and researcher at the Omran Center for Strategic Studies, considered the US decision a positive step, but insufficient on its own to achieve comprehensive economic recovery. He stressed that economic stability requires extensive internal reforms, including improvements to the investment climate, infrastructure, and political governance.
Koman highlighted that the banking sector stands to benefit significantly, expecting that lifting the restrictions will ease international trade transactions, improve goods availability, and help reduce prices. He explained that improvement in the exchange rate is tied to an increased inflow of hard currency through trade and investment, which requires a transparent and corruption-free environment and a better business climate. However, he cautioned that while a return to the SWIFT system is technically possible, it requires advanced banking and technological infrastructure, no longer available due to years of isolation, making system upgrades both essential and urgent.
Mahmoud Khalil, economist and strategic expert, stated that lifting the sanctions represents a critical shift for the economy, noting that the success of capitalizing on this development depends on the efficiency of administration and execution, as well as structural reforms and sound monetary policies. Khalil predicted a gradual inflow of foreign investments, which will depend on legal safety, the legislative environment, and the facilities provided.
The impact on the exchange rate will also be gradual and linked to how quickly capital enters the market and how stable the monetary system becomes, he added. He emphasized the importance of updating the banking infrastructure and advancing digital transformation, in addition to raising the competence of human and administrative resources in the banking sector. He called for institutional and technical support from international organizations to help overcome regulatory and technological challenges.
It is worth noting that US President Donald Trump signed an executive order on Monday to lift US sanctions on Syria, a move that aims to support Syria’s stability.