Damascus has increased support for basic materials in order to contain popular anger (Jazeera)
Finance Minister Mohammad al Aljalilati The actual increase in spending within the budget in 2012 was 15% compared to the current, so Nahz 1.326 trillion liras Surat (26 billion and $ 661 million).
The minister said - in an interview with the semi-official Al-Watan, Syria - that for the first time will show the full value of the oil resources as the resources within the revenue within the structure of the general budget, in addition to highlighting the total support of prices under expenditure.
According Aljalilati the total support of food prices and oil derivatives in the next year will reach 386 billion pounds (7.76 billion dollars), while the amount was not more than 25 billion pounds (half a billion dollars).
On this vast difference between the two figures mentioned, the Minister of Finance explained that the difference will be covered in two ways such as issuing a special decree of the presidency every few years write off the deficit in the domestic debt of the State with regard to logistical support and hit 75 billion pounds (1.5 billion dollars).
The other method is to not show the amount of the deficit in the support of electricity and petroleum products within the text of the budget, estimated at 310 billion pounds (6.2 billion dollars).
Economic losses
The study was released days before the Consultative Group Jeopolsta about the economic cost of the Arab spring, I concluded that what is seen in Syria protests demanding the dropping cost the GDP of $ 6.07 billion, and cost the general budget of $ 21.22 billion.
The last IMF forecast that the Syrian economy will shrink by 2% in 2011 to recover by some sound in the next year and achieve a growth of 1.5%, as the IMF projected that consumer prices of about 6% in 2011.
According to the statistics reported by the study mentioned above, the gross domestic product to be close to Syria in 2011 to 68.3 billion dollars, with total public debt in the range of 24.3% of the gross domestic product.
Source: German-Jazeera