UN: Syria May Need Half a Century to Recover Its Economy

The Central Bank of Syria, highlighting the country's economic struggles. (Photo: North Press)
The Central Bank of Syria, highlighting the country's economic struggles. (Photo: North Press)

By Kardo Roj

DAMASCUS, Syria (North Press) – The United Nations Development Programme (UNDP) has estimated that Syria will require at least 50 years to return to its 2010 economic levels if growth continues at the current pace, urging the international community to invest heavily in the country to accelerate recovery.

In a report released on Thursday, UNDP Administrator Achim Steiner stated that “beyond immediate humanitarian aid, Syria’s recovery demands long-term development investments to establish economic and social stability for its people.”

Steiner emphasized the need to restore productivity to create jobs, reduce poverty, revitalize agriculture for food security, and rebuild essential infrastructure, including healthcare, education, and energy services.

At the current annual growth rate of approximately 1.3% (between 2018 and 2024), the Syrian economy is not expected to reach its pre-war GDP levels before 2080.

Before the war, Syria’s GDP stood at $62 billion in 2010, with an annual growth rate exceeding 5% for the preceding five years. However, according to UN estimates, the country’s current GDP has shrunk to less than half of that figure.

The UN report highlights that 14 years of conflict have set Syria’s economic and social progress back by roughly 40 years. The country’s GDP has declined by 50%, while poverty rates have surged from 33% before the war to 90% today, with extreme poverty affecting 66% of the population.

The newly established Syrian leadership continues to call for the removal of economic sanctions, arguing that they remain a major obstacle to economic recovery.