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The effects of the prolonged war in Syria have reached frightening levels. In the 14 years that have passed, the country's production, industry, and institutions have almost completely collapsed. The economy resembles a scene of rubble.
The Syrian economy has shrunk by 85% in 14 years. The unemployment rate has reached 57%, and inflation has hit 141%. The Gross Domestic Product fell from $67.5 billion in 2010 to $9 billion in 2023. Per capita income dropped from $2,800 in 2010 to $1,600 in 2023. Daily oil production decreased from 383,000 barrels to as low as 90,000 barrels.
THE SCALE OF ECONOMIC AND SOCIAL DEVASTATION IS GREAT
The volume of foreign trade has fallen from $29 billion to $4 billion. The country has become one of the centers of drug trafficking due to the influence of the PKK/YPG. As a result of the civil war, 17.5% of homes have been destroyed. The cost of reconstruction is $117.7 billion. The country's population has decreased from 22 million to 18.5 million. 4.8 million people have left the country, and 7 million have been forced to internally displace. The Syrian pound lost 270 times its value against the dollar between 2011 and 2023.
GOLD RESERVES HAVE MELTED, CORRUPTION IS AT ITS PEAK
Syria, which ranked 127th among 178 countries in 2010, fell to 177th among 180 countries in 2023. The country, which has one of the significant gold reserves in the Middle East, lost a large portion of these reserves during the war.
INFRASTRUCTURE AND ENERGY LOSSES HAVE DEVASTATED LIFE
The electricity production capacity has decreased by more than 50% compared to pre-war levels. The damage to the electricity infrastructure is directly estimated at $40 billion and indirectly at $80 billion. 25% of agricultural land has become unusable.
TURKEY'S CONTRIBUTIONS TO SYRIA MAY BE LED BY THE CONSTRUCTION SECTOR
Turkish construction companies could play a significant role in the reconstruction of Syria's infrastructure. Construction materials can be sourced from Turkey to enable rapid development.
DEFENSE SECTOR
The military infrastructure and resources of the war-torn country have been further devastated by the maps given by Bashar al-Assad to Israel after the regime's fall. Israel's pinpoint strikes on military bases, arms depots, and barracks have virtually destroyed the last remaining military assets. Turkish defense industry firms could play an active role in the reconstruction of the Syrian army, which has disbanded after Bashar al-Assad's departure.
HEALTH INVESTMENTS
The hospital infrastructure in the country has largely been destroyed. Turkish private hospitals can fill this gap with their expertise and skilled personnel. Another need here is the issue of healthcare workers. Among the millions of people who had to leave their country due to the civil war, there are also healthcare workers, especially doctors. Closing this gap may take years.
INDUSTRY AND ENERGY INVESTMENTS
While Turkish investors can increase employment in the industrial sector, they can also address the country's energy deficit by establishing solar and wind power plants. If organized industrial zones are established as planned in 2005, employment in the region could increase significantly.
ALARMING FIGURES FROM THE UN
According to the United Nations, 16.7 million people in Syria will be in need of assistance in 2024. This figure was 15.3 million in 2023. The price of a standard food basket has increased 133 times compared to 2013.
COST FOR THE FUTURE
The cost required to revive Syria's economy and infrastructure is estimated to reach $250 billion. In this process, countries like Turkey can play a significant role with their economic and humanitarian contributions.
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