New York, Dec 4, 2025 — In a remarkable turn of events for a nation long struggling under the burden of civil war and economic sanctions, the Governor of Syria's central bank, AbdulKader Husrieh, announced that the country's economy is experiencing a growth rate significantly higher than the World Bank's forecast of 1% for 2025. This unexpected growth has been largely fueled by the return of millions of Syrian refugees following the end of a 14-year civil conflict.
Economic Resurgence Post-Civil War
During the Reuters NEXT conference in New York on Thursday, Husrieh emphasized that the inflow of approximately 1.5 million returning refugees is primed to boost Syria's gross domestic product (GDP) far beyond existing estimates. He criticized the World Bank projection as a misrepresentation of the country’s actual economic revival. “Just calculate what the return of refugees could add to GDP,” he remarked, highlighting the transformative potential of these returning citizens for the war-torn economy.
Repeal of Sanctions: A Path to Financial Liberation
Husrieh also dubbed the recent extension of the U.S.** "Caesar"** sanctions suspension as "a miracle," indicating optimism for their complete repeal by the end of next year. Following a 180-day extension announced by the U.S. Treasury, Husrieh has been in talks with U.S. lawmakers. He expressed hope that full sanctions relief would restore confidence and facilitate relationships with correspondent banks essential for Syria's reintegration into the global economy.
“Once this happens, this will give comfort to our potential correspondent banks about dealing with Syria,” he explained. Initiatives such as revamping regulations to combat money laundering and financing terrorism are also underway, which Husrieh noted would enhance the credibility of Syria’s banking system internationally.
A New Currency and Economic Measures
One of the pivotal changes Husrieh highlighted is the imminent launch of a new Syrian currency encompassing eight denominations and the removal of two zeroes. This reform is intended to restore confidence in the Syrian pound, which, as of Thursday, was traded at an alarming 11,057 to the U.S. dollar.
Furthermore, Husrieh articulated his commitment to ending decades of government deficit financing by the central bank. This shift is poised to stabilize public finances and improve central bank management, which have both suffered significantly throughout years of conflict and economic isolation. “The new currency will be a signal and symbol for this financial liberation,” Husrieh stated.
A Digital Payment Future with Visa
In a further signal of economic advancement, Husrieh announced a new partnership with Visa to establish a digital payments ecosystem in Syria, aiming to transform the nation into a financial hub for the Levant. The agreement with Visa promises to facilitate a modern payment system that accommodates international transactions, demonstrating Syria's intent to engage more fully with the global financial community.
“With Visa and Mastercard in the picture, we are working towards having a fully finished payment system with global partners. Our vision is to establish Syria as a financial hub,” Husrieh declared.
Addressing Economic Data Reliability
Acknowledging the limitations of accurate economic data in Syria, Husrieh pointed out that indicators such as the strengthening of the Syrian pound's exchange rate and declining inflation rates serve as proxies for economic performance. He underscored the central bank’s collaboration with the International Monetary Fund (IMF) to develop methods for accurate economic assessments, which would help restore investor confidence.
Challenges Ahead
Despite the optimistic projections and reforms, challenges remain. The economic landscape is still marred by security issues and the complexities of reforming a system that has long been crippled by war and sanctions. The impending return of refugees may provide a short-term boost, but the sustainability of this growth hinges on the successful implementation of promised reforms and international engagement.
As Syria navigates this pivotal juncture in its economic revival, the return of refugees, currency reform, and international partnerships will play crucial roles in shaping its future. The world watches as this historically significant nation attempts to redefine its place in the global economy.
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