December 16, 2015

An Official in the Syrian Regime: the Estimated Cost of Destruction in Syria is $250 billion

An Official in the Syrian Regime: the Estimated Cost of Destruction in Syria is $250 billion – December 12, 2015 | 11:20 AM

Assistant Minister of Economy of the Assad regime, Hayan Sulaiman, said that the cost of destruction in Syria is estimated at $250 billion that include all sectors; the damages in the trade sector are estimated at 270 billion SYP, in the industrial sector at 568 billion SYP, and 330 billion SYP in the tourism sector..

According to the Lebanese newspaper “Al-Safir”, Hayan explained that this number is discreet and based on his efforts as a researcher. He pointed out that damages in the transportation sector are estimated at 660 billion SYP, material damages in the power sector have exceeded 1500 billion SYP, while the estimated cost of damages in the oil and gas sector have surpassed $27 billion

Losses in the education sector are estimated at 50 million SYP, in addition to regression in the agricultural sector by 15%, and the significant impact on the monetary sector where the Syrian Pound have dropped by more than 80%, Hayan continued.

He revealed that the unemployment rates among the youth – from 15 to 24 years – have amounted to 82% end of last year in comparison with 35% in 2011, and expects it to reach 66% in 2015.

Among provinces that suffered from houses’ destruction due to the ongoing events in Syria, Aleppo was ranked the first with 424,000 totally or partially destroyed houses, followed by Damascus countryside which half of its houses are also destroyed, then comes Homs with nearly 200,000 destroyed houses, followed by Idleb in the fourth place, Daraa in the fifth, while Deir Ezzor is ranked the sixth with 82,000 destroyed houses. According to the study, the total cost of only rebuilding the houses till now is around 700 billion SYP.

Two years ago, the UN Economic and Social Commission for Western Asia (ESCWA) issued a report saying that nearly one and a half million of houses are totally or partially destroyed or damaged due to war, including 315,000 totally destroyed houses, and 300,000 partially destroyed houses.

(This article has been translated from Arabic by Syrian Economic Forum)

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