AGP Executive Report
Last update: 2 hours agoFuel-price shock and protests: Syria’s government raised diesel by 40% and petrol by up to 28% (plus gas hikes), citing higher global procurement costs and refinery disruption, and the move triggered the widest protests since the Assad fall—crowds blocked roads like the Damascus-Aleppo highway, burned tires, and even halted crude tanker convoys. US-Syria business push: In Damascus, a US Chamber of Commerce delegation representing 50 companies met Syrian officials to explore investment and expand economic ties, as Damascus signals a more open economy and a bigger private-sector role. Payments upgrade: QNB Syria and Mastercard rolled out Syria’s first locally issued card usable abroad, aiming to widen international payment access. Trade and finance constraints: A Syrian Gulf Bank executive said sanctions easing—especially around Caesar Act restrictions—is key to rebuilding correspondent banking and restoring trade finance, beyond just reconnecting to systems like SWIFT. Energy corridor paradox: With Hormuz disruptions, Syria is seeing heavy oil transit via land routes, but Syrians still face fuel shortages and price pressure. IFC leadership for the Levant: The World Bank’s IFC named Thomas Jacobs division director for the Levant, including Syria, prioritizing private-sector participation, water security, MSME finance, and digitalization.
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