Finance Minister Projects 11.3% Growth and $8 Billion Budget Revenues for 2026

Economic Growth Projections

Finance Minister Mohammad Yasser Barnieh stated that Syria's economy is expected to grow by 11.3 percent during the current year, with growth momentum projected to continue in subsequent years. The minister said that production in several sectors is expected to return to 2011 levels by 2030, according to statements carried by SANA on Monday, 10 August.

Barnieh indicated that budget revenues are estimated at approximately $8 billion for 2026, adding that exceptional revenues would be directed toward investment projects in affected areas as well as support for entrepreneurship and technology startups.

Fiscal Policy Priorities

The minister stated that the government's fiscal priorities centre on making high growth sustainable and inclusive, while strengthening social protection networks, maintaining fiscal discipline, and reinforcing economic and financial stability.

Barnieh linked future improvements in tax revenues to three factors: stronger economic growth, combating corruption and tax evasion, and higher levels of taxpayer compliance.

New Tax System

Barnieh announced that a new tax system is ready to be presented to the People's Assembly, expressing his hope that it would enter into force at the start of 2027. The system is designed to stimulate the economy and encourage the private sector through several measures:

• Simplified tax procedures and reduced rates for individuals and companies
• A package of tax incentives linked to the volume of employment generated
• Incentives encouraging the adoption of modern technologies and production lines
• Reduced tax burdens for low-income earners

The minister noted that the system was designed to encourage the restart of destroyed or idle industrial, commercial, and tourism facilities, and to facilitate the establishment of new businesses and job creation. Barnieh stated that the new tax policy aims, in his words, to make Syria's tax system the most competitive in the region.

National Entrepreneurship and Technology Fund

The minister announced that the Ministry of Finance is working with the Ministry of Communications and Information Technology to establish a national fund to support entrepreneurship and technology startups, to be financed through a portion of revenues generated by the telecommunications sector.