GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home Headlines

War Has Cost $226 Billion To Syria Economy

July 10, 2017
in Headlines
Share on FacebookShare on Twitter

Syria’s six-year conflict has ravaged its infrastructure and caused losses to its economy of $226 billion, according to estimates published by the World Bank on Monday.

You Might Also Like

Ghanaian Can Travel to South Africa Visa-Free

2019 – the Biggest Year yet for Ghanaian Tourism

Three Britons On Trial In Singapore Accused of Gang-Raping Drunk Woman

The devastating war has killed over 320,000 people and displaced more than half the country’s population since it began in March 2011.

The World Bank said the destruction ran much deeper than death tolls or infrastructure damage alone could capture.

“The war in Syria is tearing apart the social and economic fabric of the country,” World Bank Vice President for the Middle East and North Africa Hafez Ghanem said in a statement.

“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,” he said.

The World Bank report found that cumulative Gross Domestic Product losses since Syria’s conflict erupted “have been estimated at $226 billion, about four times the Syrian GDP in 2010.”

The body estimated that the conflict had damaged or destroyed 27 percent of Syria’s housing stock and about half the country’s medical and educational facilities.

Those calculations were based on cross-checked satellite imagery of certain cities and areas and extrapolated based on a conflict intensity model.

The World Bank found an average of 538,000 jobs had been lost annually between 2010 and 2015. It said more than three in four Syrians of working age — or about nine million people — were neither employed nor enrolled in any form of school or training.

“The long-term consequences of this inactivity will be a collective loss of human capital leading to a shortage of skills in Syria,” it said.

The damage to the health sector has also had devastating effects, with the World Bank saying more people were estimated to have died from deficiencies in the medical system than directly from fighting in the war.

“The breakdown of the systems that organise both the economy and society, along with the trust that binds people together, has had a greater economic impact than the destruction of physical infrastructure,” the World Bank said.

The report estimated that if the conflict were to end this year, GDP could regain 41 percent of its pre-conflict level within four years.

That figure shrinks however for each year the conflict continues, the institution found.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Tags: AsiaBusiness_Financecross-checked satellite imageryeast Africaeastern MediterraneanEconomy of SyriaGeography of AsiaHafez GhanemLevantMesopotamiaMiddle EastNorth Africaphysical infrastructurepoliticsPresidency of Hafez al-AssadsyriaVice President for the Middle East and North Africa Hafez Ghanemwar'Western AsiaWorld Bank

Related News

Ghanaian Can Travel to South Africa Visa-Free

by
July 10, 2019
0

Citizens of Ghana no longer need a visa to travel to South Africa. This is because the South African Government...

2019 – the Biggest Year yet for Ghanaian Tourism

by
January 24, 2019
0

2018 was a good year for tourism in Ghana with more than GH₵5.8 billion spent in the country's travel and...

Three Britons On Trial In Singapore Accused of Gang-Raping Drunk Woman

by
August 1, 2017
0

Three British men have gone on trial in Singapore today accused of gang-raping a 23-year-old woman while visiting the city-state...

Pakistani Taliban Launches Women’s Magazine

by
August 1, 2017
0

The Pakistani Taliban on Tuesday released the first edition of a magazine for women, apparently aiming to convince its target...

Next Post

Sitting Allowances For Kenya's Lawmakers Abolished

US Newspaper Group Assails Google-Facebook Online 'duopoly'

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Government of Ghana Unveils Official Portraits of President John Dramani Mahama and Vice President Prof. Naana Jane Opoku-Agyemang
  • Who Is the Woman (Sheena Gakpe) in Sarkodie’s Latest Hit “No Sir” and Why Everyone Is Talking about It
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com