Syria could delay investment projects to plug $1bn hole

Syria may delay certain investment projects as it prepares spending cuts to address a $1 billion budget shortfall, according to official Syrian media. Finance Minister Yisr Barnieh announced that "unnecessary expenditure" will be targeted during the spending review. However, Barnieh vowed not to cut wages, healthcare, or education services.

The government had aimed to attract significant investment, with Gulf countries and the UAE leading the pledges for reconstruction after a 13-year civil war. Projects such as a new airport in Damascus and a port expansion in Tartus are among the initiatives that could be reassessed based on necessity and progress. Barnieh stressed that plans for security, basic services, and vital infrastructure would remain a priority.

The country's budget deficit grew to $1 billion in the first half of 2026, despite spending $3.7 billion against revenues of $2.7 billion. President Ahmad Al Shara recently emphasized Syria's transition from a "problem" to a "great opportunity" for international trade.