Syria war has cost $226 billion in GDP losses: World Bank

Syrians sit outside a cafe bearing the image of President Bashar al-Assad in the old part of the capital Damascus on February 12, 2017. (Photo by AFP)

The World Bank has estimated that the devastating war in Syria has cost the country a whopping $226 billion in cumulative Gross Domestic Product (GDP) losses.

The World Bank’s Vice President for the Middle East and North Africa, Hafez Ghanem, said in a statement on Monday that the losses for Syria during the six-year war have been “about four times the Syrian GDP in 2010.”

Ghanem regretted that the war had inflicted on Syria a dramatic loss of life among the civilians. He also said that the fighting had badly destroyed the country’s social and economic system.

“The number of casualties is devastating, but the war is also destroying the institutions and systems that societies need to function, and repairing them will be a greater challenge than rebuilding infrastructure — a challenge that will only grow as the war continues,” Ghanem said, adding, “The war in Syria is tearing apart the social and economic fabric of the country.”

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Source: News Now/PRESS TV

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About Cholo Brooks 15575 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.