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Syrian Arab Republic: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion

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  • International Monetary Fund

Abstract

Non-oil GDP growth in Syria may have risen to about 5½ percent in 2005, from 5 percent in 2004, buoyed by business investment and supported by household consumption and non-oil exports. Private consumption was boosted by rapid credit growth, a boom in real estate prices triggered by capital inflows, and the large wage increase from mid-2004. Overall, net non-oil exports contributed positively to growth and to an improvement in the non-oil current account deficit, thereby helping to maintain external balance despite the sharp decline in net oil exports.

Suggested Citation

  • International Monetary Fund, 2006. "Syrian Arab Republic: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion," IMF Staff Country Reports 2006/294, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2006/294
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    Keywords

    ISCR; CR; balance; exchange rate; price; GDP;
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