Syria economics of demos but not reduced: experts

Agence France-Presse. Damascus

The Syrian economy could survive anti-Government protests, hit hard by five months, unrest and sanctions in the next year, but experts and officials warn a drastic deterioration in afterwards.

The protests that have rocked the country since mid-March, have significantly slowed economic activity, with analysts predicting the negative economic growth in 2011 from a decline in tourism and investment.

"In the first three months of the uprising, everything stopped, because consumers were stunned", said Abdul Ghani Attar, Vice President Attar group a Syrian investments in hotels, finance, pharmaceuticals, and office equipment.

"Since June economic activity has resumed, but is about 40 percent over the previous year."

The 32-year-old further: ' for the moment, the private sector, which represents 70% of GDP, has survived, but if the situation improves, not next year the economy will really suffer. There is a risk of redundancies.'

Even now, Syria's economic indicators paint a bleak picture.

The Washington-based International Institute of finance predicts that the country's economy will contract by 3 percent and tourism, which accounts for GDP and 11% of employment, strongly fails 12%.

2011 According to official figures is the total number of investment projects, now-47.84% in the first half from the same period of 2010.

Make matters worse, in addition, the population buy only the bare necessities because of fear of the unknown, according to Naji Shawi, directs the Shawi group.

Sales of the Shawi group that is in foods, pharmaceuticals, finance, and between 5 and 10% compared to last year, he said.

"Until now, the economy survive, but if this crisis for more than six months continues, it will problems," he said.

40 Percent of Syria's most important stock market has plunged since mid-March and consumption significantly weaker, with clothing and electrical outlets in Damascus blatant lies.

The country imported only 2,000 cars have halved in may, before 20,000 in March and total imports compared to the previous year, according to a European diplomat, who spoke on condition of anonymity.

On the other hand, building materials are booming, because construction is unattended occupied by widespread protests, with police on the rise. Street vendors do well for similar reasons.

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