Emerging Markets, Frontier Markets, Geopolitics

The Financial Cost Of War For Syria Exceeds $200Bn – Assad

The flag of Syrian Arab Republic. Photo courtesy of Wikimedia.

Syrian President Bashar Assad says the estimated economic loss to the country from the war is $200 billion. He said rebuilding contracts will primarily be given to Russia, China and Iran.

“The economic damage and damage to infrastructure exceeds $200 billion. Economic issues can be resolved when the situation in Syria stabilizes. But the reconstruction of infrastructure requires a lot of time,” Assad said in an interview with RIA Novosti.

Assad said that many Western countries that were against Syria will try to get profitable contracts for rebuilding work, but Damascus will lean to its proven allies – Russia, China and Iran.

“I suppose that a lot of countries that were against Syria, I mean first of all Western countries, will try to direct their companies to take part in this process. However, for us in Syria there is absolutely no doubt that we will ask friendly states first,” Assad said.

”If you were to pose this question to any Syrian citizen, his answer, politically and emotionally, would be that we welcome, first of all, the companies from the three countries, primarily from Russia,” said the Syrian president.

According to Assad, Syria has hundreds of infrastructure projects in different areas and specializations for Russian business.

The conflict in Syria began in March 2011 and has taken the lives of more than 220,000 people and according to UN data has left millions displaced.

Courtesy of RT

About ETFalpha

Chief ETF Strategist & Co-Founder at EMerging Equity


No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow Us On Social Media

Google Translate

Like Us On Facebook

Our Discussion Groups

Facebook Group
LinkedIn Group

Follow EMerging Equity on WordPress.com

Our Social Media Readers


Get every new post delivered to your Inbox.

Join 267 other followers

%d bloggers like this: