The level of economic "freedom" remains low in Syria according to an
annual survey published by the Fraser Institute.
Syria ranked Index (EFW), 124 out of 141 countries covered by the 2009 edition of the Economic Freedom with a score of 5.78.
Syria scored and ranked best in the sound money area, it ranked 82 globally and had a score of 7.79. Sound money covers divisions such as money growth, standard deviation of inflation, inflation rate and freedom to own foreign currency bank account.
Syria did worst in regulations, especially in labor market regulation with a rank of 123 and a score of 3.7.
As for the other indictors Syria raking was slightly unchanged ranging improvements or declines by fractions.
In the region, Syria ranked before last with only Algeria doing worst.
(iv) Interest rate controls/negative real int. rates 10.00
B. Labor market regulations 3.69
(i) Minimum wage 4.02
(ii) Hiring and firing regulations 3.66
(iii) Centralized collective bargaining 7.01
(iv) Mandated cost of hiring 4.83
(v) Mandated cost of worker dismissal 2.58
(vi) Conscription 0.00
C. Business regulations 5.02
(i) Price controls 2.00
(ii) Burden of regulations 3.84
(iii) Bureaucracy costs 5.80
(iv) Starting a business 5.93
(v) Extra payments/bribes 3.77
(vi) Licensing restrictions 7.57
(vii) Cost of tax compliance 6.23
Regulation of Credit, Labor and Business 2009 The Syrian Arab Republic eased business start-up by lowering the paid-in minimum capital requirement and allowing online access to standardized incorporation forms. * A. Credit market regulations * Source: Doing Business 2010 Syrian Arab Republic Report, World Bank Group –IFC, 2009
Regulation of Credit, Labor and Business Doing Business Report 2010 * Source: Doing Business 2010 Syrian Arab Republic Report, World Bank Group –IFC, 2009
RECENT GOVERNMENT ACTION TO IMPROVE ECONOMICAL FREEDOM 2009
Recent changes in regional -international relation had foster the reform -linearization environment in Syria, where the Syrian government had lunched or will launch the a new pack of policies and programmers such as:
A. Size of the Government:
Lunching Public –Privet Partnership
Fostering the implantation of B.O.T and upgrading relevant laws.
Lunching Syria Public Sector ( industrial-Services-Touristic) Enterprises into B.O.T contract.
Reducing the petroleum subsidies.
B. Legal Structure and Security of Property Rights: