Damascus Securities Exchange Reopens Amid Economic Revitalization
The Damascus Securities Exchange has reopened after a six-month closure, signaling Syria's economic recovery under new leadership. The reopening coincides with eased international sanctions and a major energy deal involving Qatari, Turkish, and US firms aimed at rebuilding Syria's electrical infrastructure.
- Country:
- Syria
Trading resumed on the Damascus Securities Exchange Monday, marking a significant milestone in Syria's efforts to restore its economy after a prolonged civil war. The exchange had shut down amid the turmoil preceding former President Bashar Assad's ousting.
According to Syrian Finance Minister Mohammed Yisr Barnieh, the reopening indicates economic recovery and positions the stock exchange as a private company focused on digital expansion. This move aligns with the lifting of international sanctions by the US and Europe, easing the financial climate.
Syria also secured a USD 7 billion energy deal with a consortium of Qatari, Turkish, and US companies to rebuild its electricity grid. This includes developing gas turbines and a solar power plant, which collectively aim to generate 5,000 megawatts, significantly boosting the country's energy capabilities.
(With inputs from agencies.)
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