Dubai: Ahmad Al Sharaa, President of the Syrian Arab Republic, said the Syrian economy is showing signs of recovery and is expected to reach $50 billion in 2026, with projections to return to its 2010 level of $60 billion by 2027 and reach $200 billion over the next decade if international conditions remain stable. The economy had declined to around $20 billion in 2024 before growing to $32 billion in 2025.
According to Bahrain News Agency, President Al Sharaa, speaking as a keynote speaker at the 2026 Arab Media Summit at the Dubai World Trade Centre in the United Arab Emirates, said a key turning point for Syria was the historic decision to lift economic sanctions imposed since 1979. He highlighted mediation efforts led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, and Recep Tayyip Erdogan, President of the Republic of Trkiye, with Donald Trump, President of the United States of America.
During a session titled "Syria of the Future", the Syrian President said Damascus had undergone a fundamental transformation from a source of conflict and drugs into a centre of stability and a vital and secure trade corridor for global supply chains and energy between East and West. He also highlighted the transition from the former socialist bureaucratic model towards a free-market economy that supports the private sector and foreign investment.
President Al Sharaa highlighted prospects for partnerships with Gulf countries, particularly the UAE, Saudi Arabia, and Kuwait, as well as European investors. He noted that investment projects had begun in the real estate and tourism sectors, citing the investment by DP World in Syria's Port of Tartous and its connection with Jebel Ali Port. He also highlighted the potential of Syria's agricultural sector to contribute to food security in the region and Gulf countries with the support of modern technologies.
The Syrian President underscored the independence of national decision-making and reliance on domestic expertise to support reconstruction, uphold the rule of law, and combat accumulated institutional corruption. He warned of the risks that an expansion of regional conflicts could pose to economic growth and urged media institutions to uphold professionalism and report facts reliably without politicisation.