The United Nations Development Programme (UNDP) estimates that Syria will need at least 50 years to regain its pre-war economic levels, provided it achieves strong growth.

The UN report, released on Thursday, February 20, stated that Syria has lost approximately $800 billion from its Gross Domestic Product (GDP) over 14 years of war, emphasizing the necessity to rapidly increase economic growth rates over the next decade to ensure recovery.

According to the report, 14 years of war have delayed Syria’s economic and social progress by around 40 years. The country’s GDP has dropped by 50%, while poverty rates have surged from 33% before the war to 90% currently, with the extreme poverty rate reaching 66%.

The report indicated that 9 out of 10 people in Syria live in poverty, and one in four is unemployed.

It also highlighted that 75% of the population requires humanitarian assistance, including healthcare, education, jobs, food security, water, energy, and shelter.

Furthermore, energy production in the country has decreased by 80%, and 70% of electricity generation stations have been damaged, leading to a 75% reduction in national grid capacity.

The UNDP report mentioned that between 40% and 50% of children aged 6 to 15 do not attend school, and approximately one-third of housing units have been destroyed or severely damaged during the years of conflict, leaving 5.7 million people in Syria needing shelter support.

In light of the previous data, the UN report confirmed that the Syrian economy needs 55 years to return to its pre-war levels if the current growth rate remains at 1.3%.

The UN report warned of the continuation of the slow growth rate currently experienced in Syria (1.3% annually), emphasizing that if this trend persists, the time required for economic recovery will extend to more than half a century.

In the year preceding the outbreak of the war, the UN described Syria’s GDP as $62 billion, with a growth rate exceeding 5% over the previous five years. Currently, however, the GDP is less than half of that, according to the UN.

Syria has also been affected in terms of human development, experiencing a 40-year decline in life expectancy, levels of education, and individual income.

Abdallah al-Dardari, the Assistant Director of the UNDP and Director of the Regional Bureau for Arab States, stated that Syria’s future depends on a robust approach to developmental recovery.

He pointed out that achieving this requires a comprehensive strategy addressing governance reforms, economic stability, sector revitalization, infrastructure rebuilding, and enhancing social services.

He added, “By implementing these interrelated reforms, we can help Syria take control of its future, reduce reliance on external aid, and pave the way for a resilient and prosperous future for all in Syria.”

The new Syrian leadership calls for the lifting of economic sanctions against Syria, which it considers one of the primary factors impacting the country’s economic recovery.

The value of the Syrian pound improved following the fall of the Syrian regime, dropping to 7,000 pounds against the dollar after having been 15,000 under the ousted Assad regime. However, it has experienced fluctuations in recent days, falling to 10,000 against the dollar, according to the “S-P Today” website.

Nevertheless, this improvement has not been reflected in the markets, with the absence of purchasing power, loss of liquidity due to the Central Bank’s policies to withhold it, and reports of traders speculating against the pound.