Syria president announces $9bn budget for 2019

Syria’s president on Thursday announced a budget for 2019 of almost $9 billion. (SANA/Reuters)
Updated 06 December 2018

Syria president announces $9bn budget for 2019

  • President Bashar Assad issued the budget after parliament passed the bill on Monday
  • The 2018 budget was of 3,187 billion pounds ($7.3 billion)

DAMASCUS: Syria’s president on Thursday announced a budget for 2019 of almost $9 billion, of which around a third has been allocated to investment projects including in areas ravaged by the war.
Seven years into Syria’s grinding civil war, the Damascus government has expelled rebels and extremists from large parts of the country with Russian military backing.
President Bashar Assad issued the budget after parliament passed the bill on Monday.
Next year’s budget would amount to 3,882 billion Syrian pounds ($8.9 billion, according to the official exchange rate), state news agency SANA said.
From that, 1,100 billion pounds ($2.5 billion) would be allocated to “investment,” SANA said.
Finance Minister Mamun Hamdan said 443 billion pounds ($1 billion) would go to “investment projects in liberated areas or to which the Syrian army brings back stability,” SANA quoted him as saying.
The minister also said that 700 billion Syrian pounds ($1.6 billion) would be spent on electricity projects, without mentioning in which areas, according to state television.
Hamdan told newspaper Al-Watan that the projected deficit for next year was 946 billion pounds (almost $2.2 billion).
The regime this year expelled rebels and extremists from the capital’s surroundings and the south of the country, bringing these areas back under its control.
It has also threatened to retake the northwestern region of Idlib on the Turkish border, but the area is for now protected by a shaky buffer zone deal struck in September between Russia and rebel backer Turkey.
The 2018 budget was of 3,187 billion pounds ($7.3 billion).
Syria’s war has killed 360,000 people and displaced millions since starting in 2011 with the brutal repression of anti-regime protests.


Kuwait expects nearly 1.5 million expats to leave by end of year

Updated 11 July 2020

Kuwait expects nearly 1.5 million expats to leave by end of year

  • Over 158,000 expat workers have already left the country
  • The Egyptian and Indian expats communities were hit the hardest

DUBAI: Almost 1.5 million expatriate workers are expected to leave Kuwait by year’s end as economic slowdown due to the coronavirus pandemic forced companies to cut their workforce to save on costs and remain afloat.
Likewise, the government’s decision to lower the number of expats living in the country, through a new residency law, and its continuing Kuwaitization of jobs in the public sector also hit migrant workers.
Over 158,000 expat workers have already left the country only in a span of 116 days, or from March 16 until July 9, many of whom have been laid off because of the coronavirus crisis, local newspaper Arab Times reported.
The Egyptian and Indian expats communities were hit the hardest, the report said.
The draft of Kuwait’s new residency law would limit the number of foreign nationals recruited by companies each year and will include regulations based on their skills, Interior Minister Anas Al-Saleh was earlier reported as saying.
The Kuwait parliament aims to have the legislation ready by October, prior to the November elections.