An economy in ruins More than five years of armed conflict has had a catastrophic impact on the Syrian economy. National GDP has plummeted to less than 50 percent of pre-conflict output, and according to recent figures, the total economic loss to date amounts to 275 billion USD – around five times the country’s 2010 GDP. As violence continues in several parts of the country, especially in the pre-conflict commercial powerhouse of Aleppo, Syria’s economic downfall can be expected to continue. The extreme damage to the economy is due to a combination of a 25 percent drop in overall population, the displacement of half of all Syrians, a steep drop in economic activity, capital flight, massive destruction of infrastructure and productive capacity, as well as the loss of 25 million school years for Syria’s children, which will reduce labour productivity for the coming generation. Furthermore, large segments of the […]