Syrian Arab Republic [electronic resource] : 2006 Article IV Consultation-Staff Report; and Public Information Notice on the Executive Board Discussion.
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TextSeries: IMF Staff Country Reports; Country Report ; No. 06/306Publication details: Washington, D.C. : International Monetary Fund, 2006Description: 1 online resource (58 p.)ISBN: 1451836295 :ISSN: 1934-7685Subject(s): Balance of Payments | Central Bank | Exchange Rate | External Debt | Foreign Exchange | Syrian Arab RepublicAdditional physical formats: Print Version:: Syrian Arab Republic : 2006 Article IV Consultation-Staff Report; and Public Information Notice on the Executive Board DiscussionOnline resources: IMF e-Library | IMF Book Store Abstract: Non-oil GDP growth in Syria may have risen to about 5 1/2 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.
Non-oil GDP growth in Syria may have risen to about 5 1/2 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.
Description based on print version record.
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