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Syria's oil, power sectors incur $195bn in losses since 2011

Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil gives a press conference in Damascus on 13 October 2021. [LOUAI BESHARA/AFP via Getty Images]
Syrian Minister of Economy and Foreign Trade Mohammad Samer al-Khalil gives a press conference in Damascus on 13 October 2021. [LOUAI BESHARA/AFP via Getty Images]

Syria's oil and electricity sectors have incurred a total of $195 billion in losses since 2011, the Syrian economy and foreign trade minister announced yesterday.

Mohammad Samer Al-Khalil told reporters that he had no "final figure for the losses affecting the Syrian economy as a whole," adding that the losses were "cumulative."

"It's not possible to present final figures on the economy, except after the restoration of all Syrian lands," Al-Khalil said, noting that the oil and electricity sectors were among the "worst affected sectors due to several attacks, systematic destruction and theft during the war."

Al-Khalil pointed out that the direct and indirect losses in the oil sector had amounted to $95 billion by the end of 2020, adding that the power sector's losses had amounted to $100 billion during the same period.

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