Key Words: Syria; Syria crisis
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DAMASCUS, Jan. 30 (Xinhua) -- The worldwide economic sanctions on Syria have overburdened the sluggish Syrian economy, caused losses worth around 48.4 billion U.S. dollars and impoverished additional 900,000 Syrians, a recent report said.
The report, issued by the "Syrian Center for Policy Research," revealed that the Syrian people are bearing the bulk of Western sanctions on Syria.
The report estimated the losses of Syrian economy until the end of 2012 at about 48.4 billion dollars, equal to 81.7 percent of GDP in 2010. The total losses are distributed to 50 percent loss in GDP, 43 percent damage in the capital stock, in addition to 7 percent which represents an increase in military spending as a result of the crisis.
Overall, the crisis led to negative growth in the gross domestic product of 3.7 percent in 2011 and 18.8 percent in 2012, and up to 5.6 percent in 2012.
The report said that 28.3 percent of the total losses in GDP, which amounted to 6.8 billion dollars, were because of the U.S. and European sanctions.
The report also pointed out that the majority of the losses were in the oil sector and were estimated at 3.9 billion dollars, noting that the sectors of transport, manufacturing and finance bore the rest of the losses.
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